Forex Marketz Daily Forex News – Fully Markets Update
The U.S. dollar was trading slightly higher against the euro and the safe haven Japanese yen in holiday thin trade volume. Most of the regional Asian financial markets, in Hong Kong and Australia remain closed for the holiday.
The British pound also remains weak against the dollar as the GBP/USD was trading last trading at 1.2965.
The U.S. dollar index, which measures the U.S. currency in a basket against six other Forex units was last trading at 97.62. The index had hit a session high at 97.70 early on.
The USD index is up 1.6 percent so far in 2019 as risk aversion has supported the world’s most liquid currency. Also, the U.S. economy is still performing well against other global economies.
The benchmark EUR/USD Forex market was trading up 0.03 percent to fetch 1.1093.
The headline USD/JPY currency exchange rate was trading at 109.51 yen. This yen had hit a session low against the greenback at 109.60 yen. The AUD/USD Forex market was trading flat at 0.6926.
Forex traders are also watching trade talks between China and the United States which are showing signs of cooling off. Both sides have reached a preliminary trade agreement which support commodity and cyclical currencies like the Canadian currency, and the Aussie.
Forex Traders wait on Trade Deal Details but Problems Remain
The economic calendar is extremely thin today with only a couple of small events scheduled. Traders are still waiting on more information regarding the preliminary trade agreement between China and the United States. Both nations hope to sign this “phase one” trade accord by February.
China has signaled that they are not happy with the United States’ involvement in local issues including the protests in Hong Kong and issues regarding Taiwan. Beijing considers this area under their influence and could retaliate throwing trade talks for a loop.
