U.S. Dollar Climbs On Easing Trade War Worries
21 Mai 2018 - 8:12AM
RTTF2
The U.S. dollar strengthened against its major counterparts in
early European deals on Monday, along with treasury yields, as U.S.
Treasury Secretary Steven Mnuchin remarked that China and US would
put trade war "on hold" amid "meaningful progress" in talks last
week.
Speaking to Fox News on Sunday, Mnuchin signaled a more
cooperative path for trade deals with China as Beijing reportedly
promised to increase purchases of American goods and services to
reduce the trade deficit.
"We have agreed to put the tariffs on hold while we try to
execute the framework," Mnuchin said.
Mnuchin added that both sides had agreed to halt imposing
tariffs against each other.
Investors await the minutes from the Federal Reserve's May
meeting due this week for more clues about the rate outlook for
this year.
Other major economic data include U.S. manufacturing and
services PMI, durable goods orders and existing home sales during
the week.
The greenback has been trading in a positive territory against
its major rivals in the Asian session.
The greenback spiked up to 1.1717 against the euro, a level
unseen since November 20, 2017. The next possible resistance for
the greenback is seen around the 1.16 level.
The greenback that closed last week's deals at 1.3457 against
the pound climbed to near a 5-month high of 1.3395. Next key
resistance for the greenback is likely seen around the 1.33
level.
The greenback advanced to 111.40 against the yen, its highest
since January 18. The greenback is poised to challenge resistance
around the 113.00 level.
Data from the Ministry of Finance showed that Japan logged a
merchandise trade surplus of 626.0 billion yen in April.
That exceeded expectations for a surplus of 440.0 billion yen
following the downwardly revised 797.0 billion yen surplus in
March.
The greenback was trading higher at 1.0000 against the franc, up
from a low of 0.9965 hit at 5:00 pm ET. The greenback is seen
finding resistance around the 1.02 level.
The greenback bounced off to 0.6884 against the kiwi, after
having fallen to 0.6932 at 5:30 pm ET. The greenback is likely to
find resistance around the 0.68 level.
Data from Statistics New Zealand showed that New Zealand retail
sales rose a seasonally adjusted 0.1 percent on quarter in the
first three months of 2018.
That was shy of expectations for a gain of 1.0 percent and down
from the downwardly revised 1.4 percent in the three months
prior.
On the flip side, the greenback edged down to 1.2854 against the
loonie, from a high of 1.2890 hit at 8:30 pm ET. On the downside,
1.27 is likely seen as the next support for the greenback.
The greenback eased back to 0.7529 against the aussie, heading
closer to pierce a 4-day low of 0.7534 hit at 10:15 pm ET. If the
greenback continues its fall, 0.77 is possibly seen as its next
support level.
At 12:15 pm ET, Atlanta Fed President Raphael Bostic speaks
about the economic outlook and price-level targeting at the Atlanta
Economics Club.
US Dollar vs CHF (FX:USDCHF)
Forex Chart
Von Mär 2024 bis Apr 2024
US Dollar vs CHF (FX:USDCHF)
Forex Chart
Von Apr 2023 bis Apr 2024