Forex Marketz Daily Forex News – Fully Markets Update
The dollar was firmer against its major G-20 trade partners during the Asian trade session on Friday.
Forex traders are worried about the lack of clarity surrounding the trade talks between the United States and China as progress has stalled, once again.
Recent economic data is showing that the trade war between the world’s two largest economies is hurting economic growth. There was weaker than expected economic growth numbers from China and Japan as well as from the United Kingdom and Europe.
Looking at the USD/JPY currency exchange rate, the dollar gained ground against the safe haven Japanese yen. This Forex market added 0.1 percent to trade at 108.55 yen.
The U.S. currency was also firmer against the sentiment linked Australian and New Zealand currencies.
The dollar index, which measures the greenback against six other currencies was last trading at 98.163. The euro was trading flat against the greenback at 1.1020.
Forex Traders Monitor Trade Progress and Look for Liquidity Boosting the Dollar
Overnight, Forex traders were treated to headlines indicating that trade talks have stalled between China and the United States. China wants the U.S. to roll back tariffs before signing a preliminary trade deal and President Donald Trump refuses to commit to that.
Traders are worrying that a trade deal, or preliminary agreement known as the “Phase One” will not be signed in time. On December 15, the United States is scheduled to enforce another round of punitive trade tariffs on goods out of China.
Yesterday, White House economic adviser Larry Kudlow spoke at the Council on Foreign Relations in Washington. He addressed the current status of trade talks between Beijing and Washington DC.
He said that the two nations were “getting close” to a deal but offered no new details. This dampened investor sentiment even further as traders looked for the safety of liquidity.
