|Day's Range||6.707 - 6.716|
|52 Week Range||6.7065 - 6.7155|
The U.S. dollar snaps a four-day losing streak on Thursday, climbing higher against its rivals amid renewed uncertainty over Sino-American trade negotiations and weakness in European currencies. The British pound retraces its gains from a day ago, as the U.K. Parliament voted to request an extension of the March 29 Brexit deadline.
The U.S. dollar slips into negative territory as the U.S. trading day draws to a close, following a highly anticipated retail sales report that drew little reaction from the greenback. Instead, traders focused on a buoyant British pound, which rallied as traders awaited a key Brexit vote.
The U.S. dollar starts the week modestly stronger, amid further optimism on trade and calls for a weaker greenback from President Donald Trump.
Chinese assets expect to see an influx of capital as index provider MSCI said it is increasing the weighting of China-listed shares, as had been widely expected.
Friday’s session was marked by improved risk appetite across financial markets even as net-negative U.S. economic news mixed with positive data from China and new hopes of a trade deal. The ICE U.S. Dollar Index (DXY) was last up 0.4% at 96.517, after briefly dipping into negative territory after some weaker-than-expected economic reports.. For the week, the gauge was on track to be little changed in positive territory. The ISM manufacturing index for February read 54.2, rather than 55.5 expected, also having fallen from the prior month.
U.S. dollar pared an early loss after fourth-quarter economic growth turned out to be stronger than expected. Havens like the Swiss franc and Japanese yen, meanwhile, retraced the gains logged amid risk-off impulses from the U.S.-North Korea summit in Vietnam. U.S. gross domestic product slowed to 2.6% between October and December, compared with 3.4% in the third quarter but the expansion, nevertheless, beat consensus estimates of 1.9% and may have alleviated investor worries about a more sluggish U.S. data.
The U.S. dollar is on track to end the week in negative territory on Friday amid statements from U.S. officials including President Donald Trump that indicated positivity on the trade front.
The U.S. dollar regains ground versus major rivals Wednesday, after the Federal Reserve’s January meeting minutes show that there was no consensus on how to proceed with regards to interest-rate policy.
As the U.S.-China trade spat seems to move into its final rounds, Washington demands a “stable” yuan to be part of any final agreement, according to a Bloomberg report.
The U.S. dollar was weaker Thursday in a volatile session that was marked by a round of weaker-than-expected economic data that briefly overshadowed optimism over U.S.-China trade talks. Meanwhile, the euro and British pound grappled with slowing growth and continued drama surrounding Britain’s efforts to exit from the European Union with a new trade agreement. The ICE U.S. Dollar Index (DXY) a measure of the currency against a basket of six major rivals, first flipped in to negative territory during Thursday’s session after retail sales data for December showed an unexpected 1.2% decline, the worst drop in nine years.
The U.S. dollar holds losses in the face of a jobs report that outpaced economists’ average expectations.
The U.S. dollar recovers in late trading on Thursday after having spent earlier hours under pressure on the back of the Federal Reserve’s change in tone during its first monetary policy update of the year, saying it would be ‘patient’ with respect to further interest-rate increases.
China's central bank said on Friday it will release about 250 billion yuan ($37 billion) in additional cash to banks, Reuters reported, citing a bank statement. The move is due to changes in assessments for banks' targeted reserve requirement ratio reductions announced in 2018. Earlier this month, the central bank announced a cut in the amount of cash that banks have to hold as reserves this year as the People's Bank of China tries to reduce the risk of an economic slowdown. The total since then includes the 250 billion yuan announced on Friday and about 300 billion yuan after banks used most of the 1.5 trillion yuan released via the RRR cut, which took effect on Jan. 15 and Jan. 25. The liquidity was used to pay back maturing medium-term lending facility loans, the central bank said, according to the report. Separately, the PBOC created a bond swap facility that analysts said is the latest effort to counter the two-pronged risk of a trade war with the U.S. and a broad-based domestic economic slowdown. The move will allow holders to swap commercial bank perpetual debt for central bank bills to be used for borrowing collateral. A PBOC statement said this will "increase the financing support for the real economy."
Investing.com - Sanitary napkins and baby diapers maker Hengan International Group (HK:1044) saw its stock price dropped 3.68% to HK$54.95 after resuming trading on Thursday in Asia.
Investing.com - Hong Kong’s beauty product chain store Sa Sa International Holdings Ltd. (HK:0178) saw its shares slide 9.4% to HK$3.17 on Thursday in Asia after Citibank downgraded the company’s international credit rating to “sell” from “buy.”