Forex – U.S. Dollar Flat Ahead of Inflation Data, Trade Deal Signing in Focus

© Reuters.  © Reuters.

Investing.com – The U.S. dollar was flat on Monday in Asia ahead of the release of the latest inflation data. The potential signing of the phase one trade deal later this week is also in focus.

The U.S. dollar index that tracks the greenback against a basket of other currencies last traded at 97.078 by 11:35 PM ET (03:35 GMT), unchanged from yesterday’s close.

The latest U.S. inflation figures, due on Tuesday, are expected to remain broadly in line with the 2% inflation target, while retail sales numbers from the holiday season will also be closely watched.

A number of Federal Reserve officials will also speak this week. Boston Fed President Eric Rosengren and Atlanta Fed head Raphael Bostic will both discuss the economic outlook in appearances on Monday. Kansas City Fed President Esther George is due to deliver remarks on Tuesday, while Patrick Harker of the Philadelphia Fed and Robert Kaplan of the Dallas Fed are both due to make appearances on Wednesday.

The pair dropped 0.2% to 1.3036. Figures on fourth-quarter growth, trade, industrial output, retail sales and inflation all due to be released this week. The data will be closely watched after Bank of England Governor Mark Carney last week promised a “relatively prompt response” if economic weakness persists.

On the Brexit front, the U.K. is due to leave the EU on Jan. 31. It is uncertain whether 11 months will be enough to reach a deal. EU chief Ursula von der Leyen has earlier warned that a comprehensive U.K.-EU trade deal is “impossible” by the 2020 deadline.

“We will go as far as we can, but the truth is that our partnership cannot and will not be the same as before and it cannot and will not be as close as before because with every choice comes a consequences with every decision comes a trade off,” she said earlier this month.

The pair and the pair both rose 0.2%.

The safe-haven yen retreated as Asian equities traded higher today. The pair slid 0.2% to 109.62.

The pair lost 0.2% to 6.9004. China’s GDP data is due later this week.

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 – USD stays strong ahead of signing of trade deal

© Reuters.  © Reuters.

Investing.com – The U.S. dollar remained strong on Friday and was set to end the week on a high note just days before the signing of a phase one trade deal between the U.S. and China.

The was flat at 97.45 by 9:30 PM ET (02:30 GMT).

The pair was down 0.02% to 0.6855 and the was down 0.11% to 0.6607. The Australian dollar was helped on Friday by strong retail sales data. Australia’s statistics agency said retail sales jumped 0.9% in November, more than double the expected 0.4% increase.

The pair was up 0.02% to 109.53.

The People’s Bank of China (PBOC) set the reference rate of the yuan at 6.9351, stronger than the 6.9497 fix set on Thursday. The yuan has been strengthening over the past few weeks.

On Thursday, China’s National Bureau of Statistics reported that consumer prices rose 4.5% in December from a year earlier while producer prices fell 0.5%.

Meanwhile, markets continue to look forward to the signing of a phase one trade deal between the U.S. and China next week.

The was down 0.01% to 1.3064 after the passage of Prime Minister’s Boris Johnson’s Brexit bill, which sets the stage for the United Kingdom to leave the European Union by January 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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Pres. Trump: I’ll be signing trade deal with China on January 15

Pres. Trump tweets about phase 1 China trade deal signing date

Pres. Trump is tweeting that he will be signing the Phase 1 trade deal with China on January 15. The sign it will take place at the White House which is a “win” for the president (although China’s Xi is not attending). In return, the Pres. will be going to Beijing at a later date to begin phase 2 talks

Pres. Trump tweets about phase 1 China trade deal signing date_

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China: We are in close communication with US on trade deal signing ceremony

Comments by the Chinese foreign ministry

Trump Xi

“Both sides’ economic and trade teams are in close communication about detailed arrangements for the deal’s signing and other follow-up work.”

No further elaboration there by the Chinese foreign ministry spokesman, Geng Shuang.

Just take note that until today, China has yet to confirm the specifics of the Phase One trade deal that have been touted by US officials over the past two weeks. Notably, China said that they will only disclose the details after the official signing of the deal.

The remark above comes after US president Trump said yesterday that he and China president Xi Jinping will have a signing ceremony to the Phase One trade deal.

In case you missed it, Trump told reporters yesterday that, “We’ll be having a signing ceremony, yes. And we’ll be having a quicker signing because we want to get it done. The deal is done, it’s just being translated now.”
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US President Trump says a ‘breakthrough’ on China trade deal, will be signing it very shortly

Trump speaking in Florida on Saturday

  • “We’ve just achieved a breakthrough on the trade deal and we will be signing it very shortly”

via Reuters. 

Nothing further at this stage.

Such a comment should be a positive input for risk currencies come Monday, but of course one has to view President Trump’s comments with a degree of caution. He can be, and is quite often, economical with the truth, incorrect, talking his book, uncertain of the facts, playing for applause. Or all of those. Still, on the face of it, saying phase one of the trade deal will be signed very shortly is a positive. 

Trump speaking in Florida on Saturday

as a ps., Trump has invited UK PM Boris Johnson to visit in the oval office next year (Sunday Times reports that snippet)

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