US Dollar Supported by Trade War Ease
The greenback was steady, rising softly against its major peers in cautious trading on Monday as the US-China trade war eased. Three sources had told Reuters on Friday that the U.S. Administration was considering de-listing Chinese companies from U.S. stock markets. Traders are expecting fewer trade-war headlines during the week since China has a week-long holiday beginning on Tuesday, which marks the 70th anniversary of the People’s Republic of China.
German inflation, British economic growth, and U.S. manufacturing indicators are all due later, with U.S. employment figures at the end of the week. Anything short of expectations poses a risk to fragile sentiment.
Economic events this Monday includes:
0145 GMT: CNY Caixin Manufacturing PMI (SEP)
0600 GMT: German Retail Sales (AUG)
0755 GMT: German Unemployment Figures (SEP)
0830 GMT: GBP GDP (QoQ)
1200 GMT: German CPI (SEP)
1345 GMT: USD PMI (SEP)
2100 GMT: NZD Business Confidence and PMI
2330 GMT: JPY Job data (AUG)
NOTE: Traders are advised to be cautious and be updated on the major economic news causing high volatility to achieve better trading results.
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