Blog Posts, Forex, Market Reports

Mid-Week Dollar Commentary: U.S. Dollar gains a Fraction on Positive Trade Talks with China

By Jay and Julie Hawk of www.TheFXperts.com 

The U.S. Dollar Index (DXY) gained a fraction today, as trade talks with China continue showing positive results. The index currently lies at the 96.44 level, up just +0.06% on the day.

Elsewhere, Sterling continued to fall, coming under pressure on Brexit concerns to near good support at the 1.2925 level. Also, the UK reported a lower than expected Services PMI number on Monday, with the index printing at 50.1 compared to an expectation of 51.1.

The Euro also traded lower this week, as European Council President Tusk reiterated that the EU will not re-open Brexit withdrawal negotiations. Tusk said that, “I’ve been wondering what the special place in hell looks like for those who promoted Brexit without even a sketch of a plan on how to carry it out safely.”

Looking ahead, Thursday’s highlights include the release of the BOE’s Official Bank Rate Decision (0.75%), Inflation Report, Monetary Policy Summary, and te Official Bank Rate Votes (0-0-9), as well as the EU Economic Forecasts. Fed Chair Jerome Powell will also speak. Friday concludes the week by featuring the RBA’s Monetary Policy Statement, and the Canadian Employment Change (+6.5K) and Unemployment Rate (5.7%).

 

Disclaimer:

TheFXperts’ Forex MarketWatch Reports are provided strictly for educational purposes and represent the opinions of the authors. No recommendation or endorsement for specific financial trading or investment purposes is offered. Subscribers are advised to seek financial, business and legal guidance from licensed professionals.Visit TheFXperts’ official website at www.TheFXperts.com.  You can also view and purchase Jay and Julie Hawk’s six financial books at Jay’s Amazon author page here: amazon.com/author/Jayhawk

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