U.S. Dollar Trades Lower As Trade Talk Hopes Lifts Sentiment
14 Abril 2019 - 10:11PM
RTTF2
The U.S. dollar traded lower against its major counterparts in
the Asian session on Monday, as prospect of a U.S.-China trade deal
sapped the demand of safe-haven assets.
Hopes for a U.S.-China trade deal bolstered after U.S. Treasury
Secretary Steven Mnuchin remarked on Saturday that he believed
Washington and Beijing are getting close to the final round of
concluding issues.
Mnuchin told the media on the sidelines of the spring meetings
of the International Monetary Fund and World Bank that a U.S.-China
trade agreement would go "way beyond" previous efforts to open
China's markets to U.S. companies.
Today's economic docket features the release of New York Fed's
empire manufacturing survey for April, as well as speeches by
Chicago Fed President Charles Evans at separate events.
The U.S. industrial production and housing market data are due
on Tuesday, followed by retail sales data on Thursday.
Financial markets in U.S. will be closed on Friday for Good
Friday. Data on U.S. building permits and housing starts will be
out on the day.
The greenback dropped to 1.3103 against the pound, from a high
of 1.3070 touched at 5:15 pm ET. The greenback is likely to find
support around the 1.32 level.
The greenback that ended last week's trading at 1.1299 against
the euro declined to 1.1314. The next possible support for the
greenback is seen around the 1.14 level.
The greenback slipped to 1.0013 against the franc, reversing
from a high of 1.0028 seen at 8:15 pm ET. The greenback is poised
to find support around the 0.99 level.
After advancing to a session's high of 112.10 against the yen at
8:00 pm ET, the greenback retreated to 111.90. If the greenback
falls further, 108.00 is possibly seen as its next support
level.
The greenback weakened to an 11-day low of 0.6783 against the
kiwi and held steady thereafter. The pair was valued at 0.6760 at
Friday's close.
Data from BusinessNZ showed that New Zealand services sector
continued to expand in March, albeit at a slower rate, with a
Performance of Services Index score of 52.9.
That's down from 53.6 in February, and it marks the lowest index
score since 2012.
In today's events, Federal Reserve Bank of Chicago President
Charles Evans will deliver a speech in a television appearance on
CNBC's Squawk Box at 8:30 am ET.
In the New York session, New York Fed's empire manufacturing
survey for April and Canada existing home sales for March are
slated for release.
At 1:00 pm ET, Evans will speak about the economy and monetary
policy at the New York Association for Business Economics
luncheon.
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