FOREX TradingCharts.com

Forex News: Dollar Falls Amid U.S. Political Worries

Dollar Falls Amid U.S. Political Worries

08/22/2018 - 10:31:00 (RTTNews)

(RTTNews) - The U.S. dollar drifted lower against its most major opponents in the European session on Wednesday, as a guilty plea from Trump's former personal lawyer, Michael Cohen, and the conviction of the president's former campaign chairman Paul Manafort triggered uncertainty over his leadership.

Cohen pleaded guilty to campaign finance violations and other charges, and Paul Manafort, Trump's former campaign chairman, was found guilty on five counts of tax fraud, renewing political worries.

Investors awaited the release of minutes from the Federal Reserve's August meeting today and the annual economic symposium at Jackson Hole, Wyoming, on Friday for rate hike clues.

Data from the National Association of Realtors showed that U.S. existing home sales unexpectedly decreased in the month of July.

NAR said existing home sales dropped by 0.7 percent to an annual rate of 5.34 million in July after falling by 0.6 percent to a rate of 5.38 million in June.

The currency traded mixed against its major counterparts in the Asian session. While it held steady against the franc and the euro, it dropped against the pound. Against the yen, it rose.

The greenback slipped to a 2-week low of 1.2927 against the pound and a 2-1/2-month low of 0.9808 against the franc, from its early highs of 1.2868 and 0.9854, respectively. The greenback is likely to challenge support around 1.32 against the pound and 0.97 against the franc.

The greenback reversed from an early high of 1.1554 against the euro, dropping to near a 2-week low of 1.1620. If the greenback falls further, it may find support around the 1.18 level.

The greenback fell to near a 2-week low of 1.3007 against the loonie and held steady thereafter. The greenback is poised to challenge support around the 1.29 level.

The greenback dropped back to 0.6713 against the kiwi, on track to pierce near a 2-week low of 0.6720 seen at 6:45 pm ET. On the downside, 0.69 is likely seen as the next support level for the greenback.

Data from Statistics New Zealand showed that retail sales in New Zealand gained a seasonally adjusted 1.1 percent on quarter in the second quarter of 2018.

That beat forecasts for an increase of 0.3 percent, which would have been unchanged from the three months prior following an upward revision from 0.1 percent.

The greenback retreated to 0.7366 against the aussie, from a high of 0.7334 hit at 4:00 am ET. Next key support for the greenback is seen around the 0.75 level.

On the flip side, the greenback held steady against the yen, after having advanced to 110.50, from a low of 110.03 seen at 8:15 pm ET. The pair finished yesterday's deals at 110.29.

Data from the Ministry of Economy, Trade and Industry showed that Japan's all industry activity decreased in June, in line with expectations.

The all industry activity index dropped 0.8 percent month-over-month in June, reversing a 0.1 percent increase in May.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Soars Against British Pound After EU Leaders Refuse Brexit Deal (01 min(s), 37 sec(s) ago)
(RTTNews) - The dollar is up against all of its major rivals Friday afternoon, but its gains are m ...Full Story»

Canadian Dollar Higher After Strong Retail Sales (37 min(s), 36 sec(s) ago)
(RTTNews) - The Canadian dollar strengthened against its major counterparts in the European sessio ...Full Story»

Loonie Climbs After Canada Retail Sales, CPI (37 min(s), 37 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, Canada retail sales for July and consumer inflation for August h ...Full Story»

Loonie Mixed Ahead Of Canada Retail Sales, CPI (31 min(s), 36 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, Canada retail sales for July and consumer inflation for August a ...Full Story»

Pound Drops On EU's Rejection Of Brexit Plan (28 min(s), 24 sec(s) ago)
(RTTNews) - The pound declined against its major counterparts in the European session on Friday, a ...Full Story»

Pound Little Changed After U.K. Public Sector Finance Data (02 hr(s), 22 min(s), 24 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, the Office for National Statistics has released UK public sector ...Full Story»

Pound Slides Ahead Of U.K. Public Sector Finance Data (02 hr(s), 28 min(s), 24 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, the Office for National Statistics releases UK public sector fin ...Full Story»

Euro Little Changed Following Eurozone PMI (02 hr(s), 52 min(s), 24 sec(s) ago)
(RTTNews) - At 4.00 am ET Friday, Eurozone flash PMI results have been released. After the d ...Full Story»

Search

FOREX NEWS

Dollar Soars Against British Pound After EU Leaders Refuse Brexit Deal

09/21/2018 - 14:59 PM (RTTNews)
(RTTNews) - The dollar is up against all of its major rivals Friday afternoon, but its gains are m ...Full Story>>

Canadian Dollar Higher After Strong Retail Sales

09/21/2018 - 09:34 AM (RTTNews)
(RTTNews) - The Canadian dollar strengthened against its major counterparts in the European sessio ...Full Story>>

Loonie Climbs After Canada Retail Sales, CPI

09/21/2018 - 08:34 AM (RTTNews)
(RTTNews) - At 8:30 am ET Friday, Canada retail sales for July and consumer inflation for August h ...Full Story>>

Loonie Mixed Ahead Of Canada Retail Sales, CPI

09/21/2018 - 08:28 AM (RTTNews)
(RTTNews) - At 8:30 am ET Friday, Canada retail sales for July and consumer inflation for August a ...Full Story>>

Pound Drops On EU's Rejection Of Brexit Plan

09/21/2018 - 06:29 AM (RTTNews)
(RTTNews) - The pound declined against its major counterparts in the European session on Friday, a ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.