Dollar Higher As China Virus Worries Recede
24 Janvier 2020 - 10:08AM
RTTF2
The U.S. dollar climbed against its major counterparts in the
European session on Friday, after the World Health Organisation
said that the spread of the coronavirus in China cannot be declared
a global health emergency.
The WHO said that the outbreak is an emergency for China, but it
has not yet become a global emergency.
Beijing has restricted movements in selected cities in an
attempt to contain the virus during the busy New Year holidays.
The death toll has risen to 26 in China and those infected had
been confirmed at 830.
Today's U.S. economic docket is relatively light, with Markit's
manufacturing survey due in the American session.
The greenback has been trading higher against its most major
opponents in the previous session.
The greenback rose to 109.65 against the yen and held steady
thereafter. At yesterday's close, the pair was worth 109.49.
Data from the Ministry of Internal Affairs showed that Japan's
inflation accelerated in December but remained well below the 2
percent target.
Consumer price inflation increased to 0.8 percent in December
from 0.5 percent a month ago. This was also above economists'
forecast of 0.7 percent.
The greenback climbed to a 2-day high of 0.9715 against the
franc and near a 2-month high of 1.1026 against the euro, from its
early lows of 0.9685 and 1.1062,respectively. The greenback is seen
finding resistance around 1.00 against the franc and 1.08 against
the euro.
The greenback firmed to a 2-day high of 1.3080 against the
pound, off its early more than a 2-week low of 1.3173. On the
upside, 1.28 is seen as the next resistance level for the
dollar.
Survey results from IHS Markit and Chartered Institute of
Procurement & Supply showed that the UK private sector returned
to growth in January driven by a sharp rise in new work.
The composite output index rose to a 16-month high of 52.4 in
January from 49.3 in December.
The greenback recovered to 0.6834 against the aussie and 0.6609
against the kiwi, from its early low of 0.6857 and a weekly low of
0.6629, respectively. The greenback is likely to find resistance
around 0.67 against the aussie and 0.645 against the kiwi.
In contrast, the greenback fell to 2-day low of 1.3117 against
the loonie, from yesterday's closing value of 1.3127. If the
greenback falls further, it may find support the 1.30 mark.
The IHS Markit's U.S. manufacturing PMI for January is scheduled
for release in the New York session.
US Dollar vs Yen (FX:USDJPY)
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US Dollar vs Yen (FX:USDJPY)
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