Dollar Defensive on Mixed Headlines

 

The US Dollar traded sideways on Wednesday after troubling headlines hit the wires. US Democrats have launched a formal impeachment inquiry against President Donald Trump following reports that Trump sought Ukrainian President’s help to discredit Democratic presidential front-runner Joe Biden. House Speaker Nancy Pelosi announced the House would initiate a formal inquiry, saying Trump appeared to have undermined national security and violated the U.S. Constitution.

On the trade front, Trump lambasted China’s trade practices despite fresh Chinese buying of US agricultural goods, adding to the damp mood. He said he would not accept a “bad deal” in U.S.-China trade negotiations. The US is also preparing the tariffs against the EU. These major headlines weighed on the markets and pushed safe-havens higher. The US dollar was also pressured after the US consumer confidence fell far more than expected for the month of September.

Earlier, the Reserve Bank of New Zealand left its interest rate unchanged at 1% as expected – but kept the door open to further easing. Kiwi remained stable.

NOTE: Traders are advised to be cautious and be updated on the major economic news causing high volatility to achieve better trading results.


Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. The Bullfx (thebullfx), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Post categories

 

Symbol Bid Ask Spread
EURUSD 1.11195 1.11212 1.7
GBPUSD 1.29361 1.29389 2.8
USDCAD 1.31619 1.31638 1.9
USDJPY 108.782 108.800 1.8
USDCHF 0.99289 0.99310 2.1
AUDUSD 0.68255 0.68274 1.9
NZDUSD 0.63297 0.63320 2.3
EURGBP 0.85945 0.85966 2.1
EURCHF 1.10417 1.10437 2
EURJPY 120.974 120.991 1.7
AUDJPY 74.256 74.276 2
GBPJPY 140.737 140.767 3
USDSGD 1.36451 1.36472 2.1
XAUUSD 1485.48 1485.75 27
XAGUSD 17.415 17.442 2.7

The above live prices are provided solely for informational purposes, not for trading purposes, and may be delayed.

Subscribe To Our Newsletter to ReceiveDaily Forex Market Analysis, Invites and more!

Subscribe To Our Newsletter to ReceiveDaily Forex Market Analysis, Invites and more!

Join our mailing list to receive the latest news and updates.

You have Successfully Subscribed!