Dollar dips in forex markets as US and China agree on tradeDollar dips in forex markets as US and China agree on tradeDollar dips in forex markets as US and China agree on trade

After closing the first three days of the week with losses, the AUD/USD pair staged a decisive rebound on Thursday and rose to a fresh six-day high of 0.6775 before going into a consolidation phase in the American trading hours. As of writing, the pair was up 0.67% on the day at 0.6768.Revived hopes of the United States (US) and China reaching a trade deal seems to be the primary driver of the pair’s rally on Thursday. Several news outlets reported that sides could reach a partial trade deal that includes terms regarding Yuan valuation in exchange for suspending the US tariffs next week. Additionally, Chinese Vice Premier on Thursday said that they were willing to reach agreement on matters that both sides care about and to prevent friction from further escalation.In the meantime, the only macroeconomic data release from the US showed that the core Consumer Price Index (Trendin Graphs broker reviews) in September remained unchanged at 2.4% as expected. Nevertheless, the upbeat market mood made it difficult for the Greenback to find demand and the US Dollar Index slumped to its lowest level in two weeks to help the pair preserve its bullish momentum. At the moment, the index is down 0.4% on the day at 98.71.In the early trading hours of the Asian session on Friday, the Reserve Bank of Australia (Stock Global broker reviews) will be releasing its Financial Stability Review. More importantly, participants will be paying close attention to headlines coming out of the US-China trade negotiations.Forex Crunch is a site all about the foreign exchange market, which consists of news, opinions, daily and weekly forex analysis, technical analysis, tutorials, basics of the forex market, forex software posts, insights about the forex industry and whatever is related to Forex.Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader’s level of experience should be carefully weighed before entering the Forex market. There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market. Any comments made on Forex Crunch or on other sites that have received permission to republish the content originating on Forex Crunch reflect the opinions of the individual authors and do not necessarily represent the opinions of any of Forex Crunch’s authorized authors. Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Omissions and errors may occur. Any news, analysis, opinion, price quote or any other information contained on Forex Crunch and permitted re-published content should be taken as general market commentary. This is by no means investment advice. Forex Crunch will not accept liability for any damage, loss, including without limitation to, any profit or loss, which may either arise directly or indirectly from use of such information. .

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