Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Dollar steady as European manufacturing data in focus

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/15/2019 | 02:36pm EDT
U.S. dollar notes are seen in this picture illustration

NEW YORK (Reuters) - The dollar was little changed against the euro on Monday as investors focused on European manufacturing data due on Thursday for signs that growth in the region is improving.

"The pace of deterioration in that part of the world has begun to ebb and I think investors are waiting for more concrete signs that we may have passed the worst," said Mazen Issa, senior FX strategist at TD Securities in New York.

Improving European data would likely bolster risk appetite and send equities prices higher. That in turn could be negative for the greenback as investors chase higher-yielding opportunities elsewhere.

"The dollar has shown a fairly strong relationship with relative equity prices for the U.S. versus the rest of the world, and to the extent that we move into an environment where non-U.S. asset markets begin to perform ... we may see a tactical move lower in the dollar," Issa said.

Although the dollar tends to underperform when risk appetite grows, data on Friday showed speculators bolstered their net long dollar position in the latest week. It is now at its highest level since December 2015, while traders remain short the euro.

Data on Friday showing that China's exports rebounded in March while new bank loans rose more than expected has helped to boost risk sentiment.

Investors are also focused on U.S.-China trade talks, with any deal between the two countries seen as likely to remove headwinds to global growth.

U.S. Treasury Secretary Steven Mnuchin said on Saturday a U.S.-China trade agreement would go "way beyond" previous efforts to open China's markets to U.S. companies and he hoped that the two sides were "close to the final round" of negotiations.

U.S. negotiators have tempered demands that China curb industrial subsidies as a condition for a trade deal after strong resistance from Beijing, according to two sources briefed on discussions, marking a retreat on a core U.S. objective for the trade talks.

(Additional reporting by Tommy Wilkes in London; Editing by Paul Simao and Lisa Shumaker)

By Karen Brettell

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
12:33pHOEVEN : USGS to Update Its Oil and Gas Estimate for the Williston Basin
PU
12:24pWirecard says all subsidiaries are audited, denying FT report
RE
12:19pCLOUDINARY : Sees Record Growth, Rising Demand for its Digital Asset Management Solution
BU
12:08pAGRICULTURAL MARKETING SERVICE : USDA Increases the Salable Quantity and Allotment Percentage for Class 3 (Native) Spearmint Oil for the 2018-2019 Marketing Year
PU
12:02pNasdaq hits record, S&P nears all-time high on upbeat earnings
RE
11:54aU.S. trade panel locks in steep duties on steel truck wheels from China
RE
11:53aEuro falls on weak German business morale, stocks slip
RE
11:53aCITY OF RICHMOND CA : Automated Phone Inspection Scheduling System - Planning & Building Services
PU
11:50aEuro falls on weak German business morale, stocks slip
RE
11:48aCUADRILLA RESOURCES : Statement on shale gas compatibility with climate change
PU
Latest news "Economy & Forex"
Advertisement