FOREX TradingCharts.com

Forex News: U.S. Dollar Slides On Trade Concerns

U.S. Dollar Slides On Trade Concerns

09/24/2018 - 08:48:00 (RTTNews)

(RTTNews) - The U.S. dollar declined against its most major counterparts in the European session on Monday, as China pulled out of trade talks with the U.S., escalating trade tensions between the world's two largest economies.

China cancelled planned trade talks with the U.S. and also cancelled a planned visit to the U.S. by vice premier Liu He scheduled for this week, as a new round of U.S. tariffs on Chinese goods kicked in, triggering fears of a protracted trade dispute between the world's two largest economies.

Investors awaited the Federal Reserve's two-day monetary policy meeting ending on Wednesday, with economists expecting the central bank to raise interest rates by another quarter point.

The accompanying statement is likely to attract considerable attention along with Fed Chairman Jerome Powell's press conference as traders attempt to gauge the outlook for further rate hikes.

The day's economic calendar is quiet, with Dallas Fed Manufacturing Business Index due shortly.

The currency held steady against its major counterparts in the Asian session, with the exception of the yen.

The greenback fell to 1.3161 against the pound, from a high of 1.3063 seen at 2:30 am ET. Next key support for the greenback is likely seen around the 1.34 level.

The Industrial Trends Survey from the Confederation of British Industry showed that UK manufacturing orders deteriorated in September as export order books faded a little.

The total order book balance fell to -1 percent in three months to September, in contrast to the forecast of +4 percent. The export order book balance stood at +5 percent.

Having advanced to a 4-day high of 1.1724 against the euro at 2:30 am ET, the greenback reversed direction and dropped to 1.1775. The next possible support for the greenback is seen around the 1.19 area.

Survey data from Mannheim-based Ifo institute showed that Germany's business confidence weakened slightly in September.

The business sentiment index fell to 103.7 in September from 103.9 in August. Economists had forecast the score to drop to 103.2 from the originally estimated 103.8 in August.

The greenback retreated to 0.9584 against the franc, from a high of 0.9606 seen at 2:15 am ET. The greenback is poised to challenge support around the 0.94 mark.

The greenback eased to 0.7279 against the aussie, from a 5-day high of 0.7253 touched at 2:15 am ET. The greenback is likely to find support around the 0.745 region.

On the flip side, the greenback advanced to 112.71 against the yen and held steady thereafter. This may be compared to a 4-day low of 112.40 hit at 5:00 pm ET. At last week's close, the pair was worth 112.55.

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 Trading Mixed Ahead Of The Weekend (26 min(s), 24 sec(s) ago)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Friday afternoon ...Full Story»

Loonie Weakens After Disappointing Canada Inflation, Retail Sales Data (54 min(s), 36 sec(s) ago)
(RTTNews) - The Canadian dollar declined against its major counterparts in the European session on ...Full Story»

Loonie Falls After Canada Retail Sales, CPI (02 hr(s), 51 min(s), 36 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, Statistics Canada has released Canada retail sales for August an ...Full Story»

Loonie Mixed Ahead Of Canada Retail Sales, CPI (02 hr(s), 54 min(s), 36 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, Statistics Canada will release Canada retail sales for August an ...Full Story»

Euro Weakens After EC Warns Italy Over Budget Plan (05 hr(s), 42 min(s), 35 sec(s) ago)
(RTTNews) - The euro declined against its major counterparts in the early European session on Frid ...Full Story»

Pound Little Changed After U.K. Public Sector Finance Data (06 hr(s), 48 min(s), 36 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, the Office for National Statistics has published public sector f ...Full Story»

Pound Mixed Ahead Of U.K. Public Sector Finance Data (06 hr(s), 54 min(s), 36 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, the Office for National Statistics publishes public sector finan ...Full Story»

Australian, NZ Dollars Advance Against Majors (08 hr(s), 0 min(s),36 sec(s) ago)
(RTTNews) - The Australian and New Zealand dollars climbed against their most major counterparts i ...Full Story»

Search

FOREX NEWS

Dollar Trading Mixed Ahead Of The Weekend

10/19/2018 - 14:49 PM (RTTNews)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Friday afternoon ...Full Story>>

Loonie Weakens After Disappointing Canada Inflation, Retail Sales Data

10/19/2018 - 10:27 AM (RTTNews)
(RTTNews) - The Canadian dollar declined against its major counterparts in the European session on ...Full Story>>

Loonie Falls After Canada Retail Sales, CPI

10/19/2018 - 08:32 AM (RTTNews)
(RTTNews) - At 8:30 am ET Friday, Statistics Canada has released Canada retail sales for August an ...Full Story>>

Loonie Mixed Ahead Of Canada Retail Sales, CPI

10/19/2018 - 08:28 AM (RTTNews)
(RTTNews) - At 8:30 am ET Friday, Statistics Canada will release Canada retail sales for August an ...Full Story>>

Euro Weakens After EC Warns Italy Over Budget Plan

10/19/2018 - 05:41 AM (RTTNews)
(RTTNews) - The euro declined against its major counterparts in the early European session on Frid ...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.