FOREX TradingCharts.com

Forex News: U.S. Dollar Falls After Trump's Remarks

U.S. Dollar Falls After Trump's Remarks

08/23/2017 - 04:53:00 (RTTNews)

(RTTNews) - The U.S. dollar dropped against its most major counterparts in the early European session on Wednesday, after the U.S. President Donald Trump threatened to shutdown federal government unless the Congress funds money to build a border wall with Mexico and also hinted at the possible termination of the NAFTA deal.

Speaking at a rally in Phoenix, Arizona, Trump told that Congress should fund money to build a wall along the border with Mexico to prevent illegal migration.

"If we have to close down the government, we are building that wall," he said.

"One way or the other, we're going to get that wall."

The President also warned about the termination of NAFTA trade deal with Canada and Mexico, if the U.S. is "unable to make a fair deal."

Trump has sought the approval of $1.6 billion in federal funding for the wall, but it faces stiff opposition from the Democrats.

The greenback showed mixed performance in the Asian session. While the currency held steady against the euro and the pound, it dropped against the yen and the franc.

The greenback edged down to 109.33 against the yen, from a 6-day high of 109.83 hit at 8:00 pm ET. Continuation of the greenback's downtrend may see it challenging support around the 108.00 region.

The latest survey from Nikkei showed that Japan manufacturing sector continued to expand in August, and at a faster pace, with a Manufacturing PMI score of 52.8.

That's up from 52.1 in July, and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.

The greenback retreated to 0.9674 against the Swiss franc, after having advanced to a 6-day high of 0.9698 at 9:00 pm ET. If the greenback-franc pair extends weakness, it may challenge support around the 0.94 area.

The greenback reversed from an early 2-day high of 1.1740 against the euro, dropping to 1.1792. On the downside, 1.19 is likely seen as the next support level for the greenback.

Flash survey data from IHS Markit showed that Eurozone private sector activity maintained strong growth momentum in August, underpinned by strong expansion in the manufacturing output.

The flash composite output index rose slightly to 55.8 in August from 55.7 in July. Meanwhile, economists had expected the index to fall to 55.4.

On the flip side, the greenback advanced to near a 2-month high of 1.2796 against the pound, off its early low of 1.2834. The greenback is poised to find resistance around the 1.26 mark.

Looking ahead, U.S. Markit's PMI reports for August, U.S. new home sales data for July, Eurozone consumer confidence index for August and U.S. weekly crude oil inventories data are slated for release in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Paring Gains After Yesterday's Surge (07 hr(s), 15 min(s), 50 sec(s) ago)
(RTTNews) - The dollar is down against all of its major rivals Thursday afternoon, easing back fro ...Full Story»

South African Rand Advances Against U.S. Dollar After South Africa Decision (12 hr(s), 18 min(s), 50 sec(s) ago)
(RTTNews) - The South African Rand climbed against the U.S. dollar in early New York deals on Thur ...Full Story»

Euro Mixed After Eurozone Consumer Sentiment Index (12 hr(s), 21 min(s), 50 sec(s) ago)
(RTTNews) - After the release of Eurozone flash consumer sentiment for September at 10:00 am ET We ...Full Story»

Dollar Little Changed After U.S. House Price Index (13 hr(s), 21 min(s), 50 sec(s) ago)
(RTTNews) - The Federal Housing Finance Agency's House Price Index for July has been released ...Full Story»

Dollar Off Early Highs Ahead Of U.S. House Price Index (13 hr(s), 30 min(s), 49 sec(s) ago)
(RTTNews) - The Federal Housing Finance Agency's House Price Index for July is expected at 9.0 ...Full Story»

Loonie Gains After Canada Wholesale Sales (13 hr(s), 51 min(s), 50 sec(s) ago)
(RTTNews) - Following the release of Canada wholesale sales for July at 8:30 am ET Thursday, the l ...Full Story»

Dollar Rises After Weekly Jobless Claims (13 hr(s), 54 min(s), 50 sec(s) ago)
(RTTNews) - Following the release of U.S. weekly jobless claims for the week ended September 16 at ...Full Story»

Loonie Falls Vs Most Majors Ahead Of Canada Wholesale Sales (13 hr(s), 57 min(s), 50 sec(s) ago)
(RTTNews) - Statistics Canada will release Canada wholesale sales for July at 8:30 am ET Thursday. ...Full Story»

Search

FOREX NEWS

Dollar Paring Gains After Yesterday's Surge

09/21/2017 - 15:11 PM (RTTNews)
(RTTNews) - The dollar is down against all of its major rivals Thursday afternoon, easing back fro ...Full Story>>

South African Rand Advances Against U.S. Dollar After South Africa Decision

09/21/2017 - 10:07 AM (RTTNews)
(RTTNews) - The South African Rand climbed against the U.S. dollar in early New York deals on Thur ...Full Story>>

Euro Mixed After Eurozone Consumer Sentiment Index

09/21/2017 - 10:05 AM (RTTNews)
(RTTNews) - After the release of Eurozone flash consumer sentiment for September at 10:00 am ET We ...Full Story>>

Dollar Little Changed After U.S. House Price Index

09/21/2017 - 09:03 AM (RTTNews)
(RTTNews) - The Federal Housing Finance Agency's House Price Index for July has been released ...Full Story>>

Dollar Off Early Highs Ahead Of U.S. House Price Index

09/21/2017 - 08:55 AM (RTTNews)
(RTTNews) - The Federal Housing Finance Agency's House Price Index for July is expected at 9.0 ...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.