Forex- U.S. Dollar Falls on Mixed Trade Signals; Pound Rises 

© Reuters.  © Reuters.

Investing.com – The U.S. dollar fell on Thursday, as mixed trade signals kept investors at bay.

Earlier in the day, China reiterated its expectations that tariffs should be lifted as part of a phase-one deal, after Bloomberg reported on Wednesday that U.S. officials expect a deal before the latest round of American tariffs takes effect on Dec. 15.

The news was a complete turnaround from comments from U.S. President Donald Trump earlier in the week. Trump said Tuesday that a deal could be made after the 2020 election, sending markets reeling.

The , which measures the greenback’s strength against a basket of six major currencies, slipped 0.2% to 97.458 as of 10:31 AM ET (15:31 GMT). The dollar was lower against the safe-haven Japanese yen, with down 0.1% to 108.75.

Elsewhere, the pound continued to rise due to confidence that the Conservative Party will win the general election on Dec. 12. gained 0.2% to 1.3129, while rose 0.2% to 1.1853.

was up 0.2% to 1.1092, despite a fresh drop in German earlier in the day that point to another weak quarter for the euro zone’s largest economy.

The Canadian dollar was edged slightly higher after data showed that Canada’s slightly narrowed in October. fell 0.1% to 1.3184.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Forex – Major Currencies Remained Little Changed Amid Mixed Messages on Trade War

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Investing.com – Major currency pairs were little changed on Friday in Asia amid mixed messages on the Sino-U.S. trade progress.

The U.S. dollar index last traded at 97.835 by 1:05 AM ET (05:05 GMT), down 0.04%.

The Wall Street Journal reported that China has invited top U.S. trade officials including U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to Beijing for a new round of face-to-face negotiations.

The report came one day after Reuters said a partial trade deal might not be signed this year.

While officials from China hinted that Beijing and Washington hinted earlier this month that the two sides are close to signing a deal, U.S. President Donald Trump comments last week that said he did not agree to roll back existing tariffs dampened hopes of a quick trade deal.

The pair, which is usually sensitive to trade news, was little changed at 7.0343.

“Headline fatigue has set in,” said Ray Attrill, National Australia Bank’s head of FX strategy, in a Reuters report.

“With the constant barrage of seemingly contradictory stuff, the market’s given up trying to second-guess…seeing is believing, and we’ll trade it once we know what’s happening.”

On the data front, flash purchasing managers index from Germany, the Eurozone, Britain and the United States are all due later on Friday.

The pair and the pair both traded 0.1% higher.

The pair was also near flat at 1.2916.

The pair was unchanged at 108.62.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Why is risk tone mixed this am after rollback tariffs agreed?

Risk is in the balance…again

Risk is in the balance...again

Ok, so we have had news from China and the US that rollback tariffs will be in play? So everything should be hunky dory, right?

wrong.

There are reports of fierce internal opposition from the US regarding tariff rollbacks. This is an uneasy agreement, hence the jitters.

The US-China ‘trade war’ is taking on similar proportions to the US-Russia ‘Cold War’. Any talks of ‘Phase 1’ deals are truce’s and not resolution. Who knows which way risk will flip today – just keep your eyes and ears alert. 

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U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 0.14%

© Reuters.  U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 0.14% © Reuters. U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 0.14%

Investing.com – U.S. stocks were mixed after the close on Monday, as gains in the , and sectors led shares higher while losses in the , and sectors led shares lower.

At the close in NYSE, the gained 0.14% to hit a new 1-month high, while the index fell 0.01%, and the index declined 0.19%.

The best performers of the session on the were Walgreens Boots Alliance Inc (NASDAQ:), which rose 5.76% or 3.03 points to trade at 55.59 at the close. Meanwhile, Caterpillar Inc (NYSE:) added 3.71% or 4.55 points to end at 127.25 and Dow Inc (NYSE:) was up 2.80% or 1.21 points to 44.45 in late trade.

The worst performers of the session were Merck & Company Inc (NYSE:), which fell 3.58% or 3.10 points to trade at 83.47 at the close. Visa Inc Class A (NYSE:) declined 2.26% or 4.19 points to end at 181.55 and The Travelers Companies Inc (NYSE:) was down 1.84% or 2.79 points to 149.23.

The top performers on the S&P 500 were Helmerich and Payne Inc (NYSE:) which rose 8.56% to 41.72, National Oilwell Varco Inc (NYSE:) which was up 8.07% to settle at 23.96 and L Brands Inc (NYSE:) which gained 6.94% to close at 17.87.

The worst performers were MarketAxess Holdings Inc (NASDAQ:) which was down 11.85% to 369.69 in late trade, IDEXX Laboratories Inc (NASDAQ:) which lost 7.37% to settle at 267.20 and Roper Technologies Inc (NYSE:) which was down 4.80% to 356.96 at the close.

The top performers on the NASDAQ Composite were ACADIA Pharmaceuticals Inc (NASDAQ:) which rose 63.24% to 38.850, FuelCell Energy Inc (NASDAQ:) which was up 60.16% to settle at 0.640 and Changyoucom Limited (NASDAQ:) which gained 49.32% to close at 8.84.

The worst performers were Neurotrope Inc (NASDAQ:) which was down 77.27% to 1.0000 in late trade, Freds Inc (NASDAQ:) which lost 49.47% to settle at 0.12 and Synthesis Energy Systems Inc (NASDAQ:) which was down 26.75% to 2.3805 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1853 to 1117 and 64 ended unchanged; on the Nasdaq Stock Exchange, 1652 rose and 1024 declined, while 75 ended unchanged.

Shares in ACADIA Pharmaceuticals Inc (NASDAQ:) rose to 52-week highs; gaining 63.24% or 15.050 to 38.850. Shares in Neurotrope Inc (NASDAQ:) fell to 3-years lows; falling 77.27% or 3.4000 to 1.0000. Shares in Freds Inc (NASDAQ:) fell to all time lows; down 49.47% or 0.12 to 0.12. Shares in Synthesis Energy Systems Inc (NASDAQ:) fell to 3-years lows; falling 26.75% or 0.8695 to 2.3805.

The , which measures the implied volatility of S&P 500 options, was up 1.80% to 15.27.

Gold Futures for December delivery was down 0.56% or 8.45 to $ 1507.05 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 2.71% or 1.53 to hit $ 58.05 a barrel, while the November Brent oil contract unchanged 0.00% or 0.00 to trade at $ 62.67 a barrel.

EUR/USD was up 0.01% to 1.1047, while USD/JPY rose 0.02% to 107.25.

The US Dollar Index Futures was down 0.08% at 98.287.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Forex – Euro, Pound Little Changed Following Draghi’s Mixed Comments

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Investing.com – The euro and the pound were little changed against the U.S. dollar on Friday in Asia following mixed comments from European Central Bank (ECB) President Mario Draghi.

The euro initially rallied after Draghi signalled that the ECB would ease in September to battle the euro zone’s economic slowdown as the outlook gets “worse and worse,” he said.

The pair last traded at 1.1149 by 11:45 PM ET (03:45 GMT), up 0.04%. The pair slipped 0.05% to 1.2447.

The ECB kept rates unchanged on Thursday, just after manufacturing data in the euro area showed that the economy is contracting, while business confidence in Germany fell.

“It’s getting worse and worse in manufacturing, especially, and it’s getting worse and worse in those countries where manufacturing is very important. But because of value chains this propagates all over the euro zone. And so this must be taken into account,” Drahi said in Frankfurt.

Draghi indicated the bank was prepared to cut rates in September and consider other options for easing. However, he also said the risk of a recession in the region was low.

Some traders interpreted his message as the central bank would not be as aggressive in its easing measures and that the U.S. Federal Reserve could follow suit when it meets next week.

The that tracks the greenback against a basket of other currencies was little changed at 97.512 ahead of the second-quarter GDP data due later in the day. Traders will then shift their focus to the Federal Reserve and Bank of Japan meetings next week.

The pair was unchanged at 108.61. The pair and the pair both slipped 0.1%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Asian shares dip on mixed U.S. earnings, euro off two-year low as ECB holds

© Reuters. FILE PHOTO:  A man walks past an electronic stock quotation board outside a brokerage in Tokyo © Reuters. FILE PHOTO: A man walks past an electronic stock quotation board outside a brokerage in Tokyo

By Hideyuki Sano

TOKYO (Reuters) – Asian share prices dropped on Friday following mixed U.S. earnings reports and after the European Central Bank unexpectedly held interest rates steady, while the euro held above two-year lows struck overnight.

MSCI’s broadest index of Asia-Pacific shares outside Japan () dropped 0.45% while Japan’s Nikkei () lost 0.5%. Shanghai shares () ticked down 0.15%.

Wall Street shares fell from record highs on Thursday, with the S&P 500 () losing 0.53%, following a flurry of downbeat quarterly results from Ford Motor (N:) and other companies.

But several companies that announced results after the market had closed on Thursday generally beat expectations, and their shares rose in after-hours trade.

Google parent Alphabet (O:) jumped 7.9%, Intel Corp (O:) 5.1% and Starbucks (O:) 6.6%. Amazon (O:), however, dipped 1.6% on its first profit miss in two years.

U.S. stock futures () rose 0.2% in Asia.

“Some capital goods makers have reported soft earnings but otherwise U.S. earnings have been generally good, partly because investors had already lowered their expectations,” said Hitoshi Asaoka, senior strategist at Asset Management One.

“Still, with U.S. share prices already at record levels, further gains are likely to be limited unless we see clearer signs of recovery in global demand,” he said.

Uncertainties over whether Washington and Beijing will be able to settle gaping differences over trade, technology and even geopolitical ambitions, kept many investors on guard. Negotiators from the two sides will meet in Shanghai next week.

A rally in global bonds ran out of steam after European Central Bank President Mario Draghi cautioned about pulling the trigger too quickly on policy easing, even though he all but pledged to loosen monetary settings further as the growth outlook deteriorates.

Analysts had expected a rate cut by the ECB.

ECB officials told Reuters after the meeting that an interest rate cut in September appeared certain, while government bond purchases and a revamped policy message were also likely.

The euro’s overnight index swaps are pricing in a cut of more than 10 basis points in September, to minus 0.50 percent.

“An interest rate cut of 10 basis points in September looks like a done deal now,” said Hideki Kishida, fixed income strategist at Nomura Securities.

The 10-year German government bond yield () initially hit a record low of minus 0.463 percent but ended the day up slightly at minus 0.407 percent.

While European bond yields are likely to stay under pressure until the next ECB meeting on Sept 12, Brexit could become a central issue as investors look to the stance of Britain’s new government under Boris Johnson.

“If there are signs of easing tensions, we could see temporary rise in European bond yields,” Nomura’s Kishida said.

The U.S. 10-year Treasuries yield also rose 3 basis points to 2.079 percent () on Thursday and traded at 2.107 percent in the following Asian session.

Also helping to stem falls in bond yields, new orders for key U.S.-made capital goods surged in June, suggesting some improvement in business investment.

Despite that, investors expect the Federal Reserve to cut interest rates by 0.25 percentage point at its policy meeting ending on July 31 to protect the economy from potential damage from the protracted U.S.-China trade war.

An advance reading of U.S. GDP, due at 8:30 a.m (1230 GMT), is expected to show the economy grew 1.8% in April-June, which would be the slowest growth in more than two years.

In the currency market, the euro bounced back to at $ 1.1149 () in Asian trade, after sinking to $ 1.1101 on Thursday, its lowest since May 2017.

The yen was little changed against the dollar at 108.57 yen per dollar .

Oil prices held firm on rising tensions between the West and Iran and a big decline in U.S. crude stockpiles, though gains were held in check by worries about slowing growth in major economies.

U.S. crude () ticked up 0.25% to $ 56.16 a barrel while Brent futures () was almost flat at $ 63.37 per barrel.

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Forex – Dollar Mixed as World Awaits Trump-Xi Meeting at G20

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Investing.com — The dollar was quiet in a narrow range against most currencies in early trading in Europe Friday as markets await the outcome of the G20 meeting in Osaka, looking for signs of rapprochement between the U.S. and China.

The key event will be a bilateral meeting between Saturday morning in Japan between the U.S. and Chinese presidents Donald Trump and Xi Jinping, which will give a degree of clarity over whether the trade dispute between the two will be ratcheted up or down over the rest of the year.

The dollar has drifted lower against most currencies this week, with the , and all gaining over 1% against it, reflecting a modest revival in risk appetite on hopes that the next planned round of U.S. tariffs on imports from China will be postponed.

“The extent of USD weakness will ultimately depend on any concrete signals coming out of Osaka this weekend vis-à-vis trade discussions,” said BNY strategist John Vells. “A total collapse of any kind of constructive posture between the two protagonists could see a return to risk selling and upward USD pressure.”

Analysts warn that the yen could also surge again if relations between the world’s two biggest economies are seen to be breaking down.

“What’s come out fresh over the past week as a catalyst to push dollar-yen toward 100 is the geopolitical risk over Iran,” Daisuke Karakama, chief market economist at Mizuho Bank Ltd. in Tokyo, told Bloomberg. “If war breaks out in the worst case, that would typically push the dollar lower.”

The yen was flat at 107.66 to the dollar, having lost over 4% since late April as the U.S.-China trade dispute has heated up.

In Europe, the spotlight will likely fall later on consumer inflation data out of various Eurozone states. Data from and on Thursday gave a mixed picture, although the European Commission’s monthly roundup of business and was overwhelmingly gloomy.

European Central Bank President Mario Draghi has said that further stimulus will be needed if the data fail to improve, a slightly more aggressive stance than the Federal Reserve, which is still waiting to be convinced of the need to ease policy.

By 3:30 AM ET (0730 GMT), the was up 0.1% against the dollar at $ 1.1388, while the was drifting at $ 1.2679, ahead of an updated reading for at 4:30 AM ET (0830 GMT). The pound is still at the mercy of uncertainty over Brexit, with – the frontrunner in the race to become the next Conservative Party leader – still sending mixed signals about the likelihood of a “Hard Brexit” on Oct. 31.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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European shares end the day mixed

Some up and some down to end the trading week

The European markets are closed and the major indices are ending the week with mixed results today.

The numbers are showing:

  • German DAX, -0.13%
  • France’s CAC, -0.13%
  • UK’s FTSE, -0.23%
  • Spain’s Ibex, unchanged
  • Italy’s FTSE MIB, +0.14%

For the week, the major indices are ending higher:

  • German DAX, +2.01%
  • France’s CAC, +2.99%
  • UK’s FTSE, +0.84%
  • Spain’s Ibex, +0.17%
  • Italy’s FTSE MIB, +3.77%

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Forex – Dollar Mixed as Risk Appetite Ebbs Ahead of Weekend

© Reuters.  © Reuters.

Investing.com — The dollar was lower against the and early Friday in Europe but higher against risk proxies such as the dollar as traders shunned risk ahead of a weekend set to be marked by geopolitical tensions.

At 3:40 AM ET (0740 GMT), the , which measures the greenback against a basket of six major currencies, was effectively flat at 96.995, but that masked varying performances against the basket’s individual constituents.

Against the yen, the dollar was down 0.2% at 108.20 and closing in on a new 14-month low, while the euro also edged higher against the buck to $ 1.1281.

The weakened further in the Asian session, a drop later validated by a disappointing data for industrial production and fixed asset investment in May. At only 5.0%, industrial production grew at its slowest rate since 2002.

China also announced its latest countermeasures in its widening dispute with the U.S., raising import tariffs on certain steel pipes from the U.S. and EU by a factor of 10.

In the U.S., a letter signed by hundreds of companies including Walmart (NYSE:) and Target (NYSE:) urged President Donald Trump not to go ahead with his plan to impose tariffs on another $ 325 billion of Chinese imports, saying they would hit American businesses, farmers and families.

The administration had late on Thursday said it would waive tariffs on bifacial solar panels from Asia, a token de-escalation of tensions given that such panels only account for 3% of the U.S. market, according to Deutsche Bank (DE:) strategist UIrich Stephan.

The dollar may see some movement later in the day after a big dump of U.S. data, which includes May at 8:30 AM ET, May at 9:15 AM ET and the University of Michigan index at 10 AM ET.

The British remains under pressure after the first round of the Conservative Party leadership contest left Boris Johnson as the clear favorite. The pound was 0.1% lower against both the dollar and , ahead of a speech later by Bank of England Governor Mark Carney.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Forex – Dollar Mixed as PMIs Show World Economy Still Struggling

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Investing.com — The dollar was mixed after early trading in Europe on Tuesday as the first shots in a barrage of economic data failed to trigger any dramatic moves in major currencies.

In Asian trading, for China came in slightly below expectations, in what analysts called evidence of ongoing factors holding the economy back, such as the lack of a trade deal with the U.S. and the threats to exports of high-value 5G goods and services.

“These uncertainties make us strongly believe that the Chinese government will continue its fiscal stimulus to support industrial sectors through infrastructure stimulus, and will provide enough credits to smaller private firms to keep them running and so stabilise the job market,” ING analyst Iris Pang said in a blog post.

The data pushed the slightly lower, along with the and .

The Chinese data were followed by the first reading for French in the first quarter. As with the U.S. numbers last week, a solid headline number of 0.3% quarterly growth was made to look weaker by a strong contribution from inventories, which would normally be reversed in successive quarters.

There was less ambiguity in Germany’s consumer confidence report, where ’s index stayed unchanged from March’s level.

An estimate of Eurozone is due at 05:00 AM ET (0900 GMT), while German data for April are also due before then.

At 03:00 AM ET (0700 GMT), the was at $ 1.1192, extending a tentative and modest recovery falling to a two-year low last week.

The , which measures the greenback against a basket of six major currencies, was at 97.505, around 0.2% where it was a day earlier.

The was also a touch higher despite a report in The Sun newspaper that Prime Minister Theresa May is to face an emergency meeting of local party heads at which she will likely be asked to stand down. The meeting will take place in June after the European parliament elections, at which May’s Conservatives appear likely to haemorrhage support to the newly-formed Brexit Party.

Of importance to the future course of Brexit is a meeting later today by the opposition Labour Party’s national executive committee, which has to decide whether or not to include a commitment to a second referendum in its manifesto for the European elections, in the teeth of opposition from leader Jeremy Corbyn.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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