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investing forex

Forex - Dollar Dips as China PMI Bounce Revives Risk Appetite - Investing.com

Posted: 01 Apr 2019 12:51 AM PDT

© Reuters. © Reuters.

Investing.com -- The dollar is opening the week slightly lower after a bounce in Chinese manufacturing activity encouraged traders to start the new quarter with some cautious optimism.

The British pound, meanwhile, has also recouped some of the losses it suffered at the end of a chaotic week in U.K. politics, although the respite looks set to be brief, given weekend press reports that the country's parties are tentatively planning for a general election to break the deadlock on Brexit.

At 03:00 AM ET (0800 GMT), the , which measures the greenback against a basket of six major currencies, was at 96.688, down some 0.2% from its closing levels on Friday. It dipped after China's purchasing managers' index rose sharply to its highest in eight months, a bounce that took it comfortably past the 50 reading that typically represents unchanged levels of activity.

The bounce hasn't been uniform. PMI readings in , and all fell, staying below the 50 level in a blow to hopes for a clearer signal of the economy bottoming out after a weak first quarter.

The reaction was muted, ticking up slightly to $1.1246.

Elsewhere, the Turkish slid again after President Recep Tayyip Erdogan's AK Party appeared to lose municipal elections in all three of the country's biggest cities. It conceded defeat in the capital Ankara and in Izmir, and was not claiming overall victory in Istanbul, the country's biggest city, against a backdrop of delays and allegations by AK's opponents of vote manipulation.

In the U.K., a fresh round of parliamentary votes is due later on alternatives to Prime Minister Theresa May's EU withdrawal bill, but nothing over the weekend suggested that the House of Commons has found a way to break the current deadlock.

Simon Derrick, chief currency strategist with BNY Mellon in London, said in a weekend note that the two-day drop in on Thursday and Friday had been the biggest since the 2016 referendum. He said there is now the possibility that the opposition Labour Party could table a no-confidence vote in the government with the aim of triggering another general election.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Forex - Sterling Pushes Higher After MPs Grab Control of Brexit - Investing.com

Posted: 26 Mar 2019 01:57 AM PDT

© Reuters. © Reuters.

Investing.com -- Sterling is center stage again Tuesday morning in Europe after U.K. lawmakers voted on Monday night to take control of the Brexit process from the government of Prime Minister Theresa May.

The development, made possible by a large-scale rebellion against May by her own party colleagues, paves the way for a series of votes on Wednesday on alternatives to the Withdrawal Agreement that she negotiated with the European Union.

The alternatives are likely to include a softer or delayed Brexit and, possibly, the cancellation of it altogether, but it is still far from clear what options can command a majority in parliament.

The pound's reaction so far has been only moderately positive, as markets have been anticipating a softer Brexit since the Withdrawal Agreement was rejected by parliament in January.

At 04:00 AM ET (08:00 GMT), was at $1.3203 and the pound was at 1.1675 against the , in both cases up around 0.2% from immediately before last night's vote.

The , which measures the greenback against a basket of six major currencies, was little changed at 96.018.

The dollar has enjoyed a degree of support from the fact that special counsel Robert Mueller's investigation into allegations of collusion between the Trump campaign and Russia in 2016 ended without any further charges being brought.

It faces further tests later Tuesday from the latest release of data on at 08.30 AM ET, and the Conference Board's index, due at 10.00 AM ET.

A indicator from Germany released earlier Tuesday dipped to its lowest since May 2017, in a fresh reminder that the global slowdown is filtering through to the export-sensitive German economy.

Elsewhere, the has recovered nearly all of the losses it suffered last week, after the central bank moved to tighten conditions in the local money market. At 04:00 AM ET, it was at 5.5009 against the dollar.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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