Forex Marketz Daily Forex News – Fully Markets Update
The U.S. dollar was trading higher against the Japanese yen Friday during the early Asian trade session. There is growing trader optimism as trade talks continue between China and the United States as both sides remain on track to sign a “phase one” trade accord.
The dollar index, which measures the U.S. dollar in a basket against six other currencies, was last trading at 97.502. The USD index, overnight during the North American session, was trading at 97.60.
The USD/JPY currency exchange rate was trading at 109.45 as the yen continues to weaken from 109.60 yen seen earlier in the week.
The AUD/USD Forex market is trading higher as this currency exchange rate continues to recover from 0.693, set on Thursday. The AUD/USD was last trading near 0.6950.
The USD/CAD currency exchange rate was moving lower, as the U.S. currency lost ground. This market was last trading at 1.3133. The Canadian currency continues to firm even as recent economic data showed that their gross domestic product came in weaker than expected. The Canadian GDP, for October, fell 0.1 percent.
Traders Monitor Trade Headlines and support the U.S Dollar over the Safe Haven Yen
Forex traders are continuing to watch trade talk progress between the world’s two largest economies.
On Wednesday, China’s Foreign Ministry spokesman, Geng Shuang said that Beijing and Washington are engaged in “close communication about detailed arrangements for the deal’s signing and other follow-up work.”
Just before Christmas Eve, U.S. President Donald Trump said that the “phase one” trade accord “deal is done.” He said that China’s President Xi would hold a signing ceremony in January 2020 and both sides are waiting on translations to be completed.
In U.S. economic data, released yesterday, the number of Americans filing applications for unemployment benefits fell last week. This is a sign of ongoing strength in the U.S. labor market.
