Forex Marketz Daily Forex News – Fully Markets Update
The almighty U.S. dollar was trading firm during the Asian trade session on Friday. The U.S. currency is trading near a multi-week high against its major Forex counterparts as increased political tensions and trade tensions between the United States and China boosted the safe haven appeal of the dollar.
Looking at the USD/JPY Forex market, the dollar was trading at 107.75 yen. This is a year high price level. The headline EUR/USD currency exchange rate was at 1.0916. The euro hit a two year low price point as traders are increasingly worried about the ever softening economic activity in the Eurozone.
The AUD/USD Forex market was trading steady near a three week high price point and the U.S. currency edged higher against the New Zealand dollar.
The GBP/USD currency exchange rate is languishing at 1.2325. This is near a two week low price point, set on Thursday. The European Union’s Brexit negotiator said that the United Kingdom has still not provided any “legal and operational” plans for exiting the European Union on October 31.
The European Union’s Brexit negotiator also said that trade war tariffs and a less dovish Federal Reserve coupled with a strong U.S. economy would be supportive of the U.S. Currency.
Forex Traders Monitor Trade Comments which Boost the Safe Haven Dollar
There have been some positive comments out of China’s commerce ministry regarding trade talks with the United States. Still traders remain cautious.
On the other hand, the United States is not very likely to extend a waiver over Huawei Technologies’ blacklist.
Yesterday, Richmond Federal Reserve President Thomas Barkin said the U.S. economy remains firm. He is not sure further monetary easing is needed at this time.
