Free Trial

Dollar dropped as tariff news crunches........>

FOREX
FOREX: Dollar dropped as tariff news crunches Treasury yields
-The USD looks to cap a poor week with a dour performance Friday, with the
greenback sitting at the bottom of the G10 pile. The USD index showed below the
50-dma on an intraday basis for the first time since mid-March, with lower
Treasury yields across the curve sapping the US currency. This prompted EUR/USD
to make a decent break above the week's highs but the pair was unable to add to
gains above the $1.1253 50-dma, with momentum sagging ahead of the Friday close.
-CAD was the firm outperformer in US hours, as Canada clocked its single best
month for job gains in history, adding 106,000 jobs. USD/CAD tested, but failed
to break through, the 50-dma at C$1.3387 on the news.
-TRY extended its decent recovery into the close, outstripping the wider EMFX
space as markets took solace in Turkish banks flooding Asia-Pac markets with USD
to prompt an outsized reaction when Europe came to market. Despite the sharp
move, USD/TRY didn't come close to erasing the week's poor performance.
-Attention turns to UK jobs data, German GDP & ZEW, Australian jobs numbers, US
retail sales and Canadian CPI.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.