FOREX TradingCharts.com

Forex News: U.S. Dollar Rises On US-China Trade Deal Hopes

U.S. Dollar Rises On US-China Trade Deal Hopes

10/22/2019 - 08:24:00 (RTTNews)

(RTTNews) - The U.S. dollar strengthened against its major counterparts in the European session on Tuesday, as investors cheered signs of progress in U.S.-china trade talks.

U.S. President Donald Trump on Monday said that China had already begun promised purchases of farm goods and that the first part of a wider commitment was almost complete.

Trade Representative Robert Lighthizer said efforts to commit the agreement to paper before the Asia-Pacific Economic Cooperation summit in Chile next month are "on track" though some work remains to be done.

Trump's economics adviser Larry Kudlow indicated that tariffs scheduled for December could be cancelled if the talks go well.

The greenback strengthened to a 4-day high of 0.9892 against the franc, up from Monday's closing value of 0.9857. Next near term resistance for the greenback is likely seen around the 1.01 level.

The U.S. currency that ended Monday's trading at 1.1149 against the euro appreciated to a 4-day high of 1.1133. The greenback is seen facing resistance around the 1.10 mark.

The greenback edged higher to 1.3103 against the loonie, after falling to a 3-month low of 1.3071 at 9:15 pm ET. The currency may locate resistance around the 1.33 region, if it rises again.

Reversing from its early more than 5-week low of 0.6883 against the aussie and 1-1/2-month low of 0.6436 against the kiwi, the greenback advanced to 0.6855 and 0.6410, respectively. The next possible resistance for the greenback is seen around 0.67 against the aussie and 0.62 against the kiwi.

The greenback bounced off to 1.2922 against the pound, from a low of 1.2987 seen at 11:00 pm ET. The greenback is likely to challenge resistance around the 1.28 mark.

Data from the Office for National Statistics showed that the U.K. budget deficit for September increased for the first time in five years.

Public sector net borrowing excluding banks increased by GBP 0.6 billion from last year to GBP 9.4 billion in September. This was the first September year-on-year increase for five years. On the flip side, the greenback pulled back to 108.49 against the yen, after rising to a 5-day high of 108.73 at 8:15 pm ET. Should the currency drops further, it may challenge support around the 106.00 level.

Looking ahead, Canada retail sales for August and U.S. existing home sales for September will be featured in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Canadian Dollar Advances After In Line Retail Sales Data (02 hr(s), 50 min(s), 17 sec(s) ago)
(RTTNews) - The Canadian dollar strengthened against its major counterparts in the European sessio ...Full Story»

Loonie Rises After Canada Retail Sales (03 hr(s), 47 min(s), 17 sec(s) ago)
(RTTNews) - Following the release of Canada retail sales for September at 8:30 am ET Friday, the l ...Full Story»

Loonie Mixed Ahead Of Canada Retail Sales (03 hr(s), 53 min(s), 17 sec(s) ago)
(RTTNews) - Canada retail sales for September are due from Statistics Canada at 8:30 am ET Friday. ...Full Story»

Pound Slides As UK Private Sector Shrinks To Over 2-yr Low (05 hr(s), 14 min(s), 17 sec(s) ago)
(RTTNews) - The pound drifted lower against its key counterparts in the European session on Friday ...Full Story»

Euro Falls As Eurozone Private Activity Nears Stagnation (06 hr(s), 08 min(s), 17 sec(s) ago)
(RTTNews) - The euro trimmed its early gains against its major counterparts in early European deal ...Full Story»

Pound Drops Further Following U.K. PMI Data (07 hr(s), 47 min(s), 17 sec(s) ago)
(RTTNews) - After the release of UK Markit/CIPS flash PMI survey data at 4.30 am ET Friday, the po ...Full Story»

Pound Falls Ahead Of U.K. PMI Data (07 hr(s), 56 min(s), 17 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, UK Markit/CIPS flash PMI survey data is due. The manufacturing P ...Full Story»

Euro Ticks Down After Eurozone PMI Data (08 hr(s), 17 min(s), 17 sec(s) ago)
(RTTNews) - Following the release of euro area flash PMI survey results at 4.00 am ET Friday, the ...Full Story»

Search

FOREX NEWS

Canadian Dollar Advances After In Line Retail Sales Data

11/22/2019 - 09:30 AM (RTTNews)
(RTTNews) - The Canadian dollar strengthened against its major counterparts in the European sessio ...Full Story>>

Loonie Rises After Canada Retail Sales

11/22/2019 - 08:33 AM (RTTNews)
(RTTNews) - Following the release of Canada retail sales for September at 8:30 am ET Friday, the l ...Full Story>>

Loonie Mixed Ahead Of Canada Retail Sales

11/22/2019 - 08:27 AM (RTTNews)
(RTTNews) - Canada retail sales for September are due from Statistics Canada at 8:30 am ET Friday. ...Full Story>>

Pound Slides As UK Private Sector Shrinks To Over 2-yr Low

11/22/2019 - 07:07 AM (RTTNews)
(RTTNews) - The pound drifted lower against its key counterparts in the European session on Friday ...Full Story>>

Euro Falls As Eurozone Private Activity Nears Stagnation

11/22/2019 - 06:12 AM (RTTNews)
(RTTNews) - The euro trimmed its early gains against its major counterparts in early European deal ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.