Forex - Dollar Range-Bound After Partial Denial of China Investment Talk - Investing.com
Forex - Dollar Range-Bound After Partial Denial of China Investment Talk - Investing.com |
- Forex - Dollar Range-Bound After Partial Denial of China Investment Talk - Investing.com
- FOREX-Dollar stands tall as investors seek shelter - Reuters
- Forex - Yuan Little Changed Despite Positive PMI Data - Investing.com
- PODCAST: How to start investing with forex (Money Hacks, Ep 55) - The Business Times
| Forex - Dollar Range-Bound After Partial Denial of China Investment Talk - Investing.com Posted: 30 Sep 2019 12:14 AM PDT  © Reuters.Investing.com -- The dollar was mixed in narrow ranges Monday, with traders struggling to make sense of the latest twists in the U.S.-China trade dispute, while sterling remained under pressure from political rhetoric from the U.K.'s ruling Conservative Party ahead of its annual conference. Over the weekend, Bloomberg had reported Treasury sources as giving a partial and qualified denial of claims that the U.S. was considering a raft of measures designed to restrict U.S. investment in Chinese companies. The timing of the reports, which hit the yuan and currencies linked to it, stood in stark contrast with President Donald Trump's 'goodwill gesture' suspending some U.S. tariffs while China celebrates the 70th anniversary of the Communist Party's takeover this week. The looming holiday in China kept the yuan in tight ranges Monday. At 3:10 AM ET (GMT), the rate was at 7.1314 to the dollar, down just over 0.1%. A small upward revision to the manufacturing purchasing managers index provided some support to it. The euro also failed to break a run of poor economic data at the start of the week, with German growth falling to 3.2% on the year from an upwardly revised 5.2% in July. The more important data comes at 3:55 AM ET (0755 GMT), when the latest shows how far the weakness in Germany's manufacturing sector has affected hiring. By 3:10 AM ET, the was at $1.0944, up less than 0.1% from Friday's close. Analysts at Nordea said they expect the dollar to stay well supported in the near term due to it being "the cleanest shirt in the laundry" – the only major currency still supported by decent gross domestic product growth. However, they note that the Treasury has increased the size of its open market operations in the last week to address pressures in short-term funding markets, and point to suggestions that the Fed should increase its balance sheet by $250 billion with a so-called "Permanent Open Market Operation". "Such a move would be good news for risk sentiment and bad news for the dollar, " though the extent may not become clear for some months, analysts Andreas Steno Larsen and Martin Enlund wrote in a note. Elsewhere, the showed little reaction to an article in the Times of London at the weekend by Chancellor Philip Hammond, who claimed that Prime Minister Boris Johnson had surrounded himself with financial backers who stood to gain billions in the event of a Hard Brexit by shorting sterling. Net short positions in the pound fell to their lowest level since July last week, according to , but still remain at historically elevated levels. 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-Dollar stands tall as investors seek shelter - Reuters Posted: 29 Sep 2019 10:11 PM PDT * Dollar finds support in quiet trade * Kiwi sharply sold as business confidence sags * Australian dollar drifts lower ahead of anticipated rate cut * European, U.S. data eyed * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh By Tom Westbrook SINGAPORE, Sept 30 (Reuters) - The dollar found broad support on Monday as global political uncertainty and fears over a widening of the Sino-U.S trade war kept investors in safe harbours ahead of a slew of global economic indicators this week. The greenback was steady against most major currencies. It held firm on the Japanese yen at 108.93 per dollar and sterling at $1.2287, while easing very slightly against the euro to $1.0932. It gained against riskier, trade-exposed currencies such as the Australian dollar and the Chinese yuan. The biggest loser was the New Zealand dollar, which fell half a percentage point as business confidence hit its weakest in more than 11 years. "Risk-off sentiment is prevailing in the market," said Anthony Doyle, global cross-asset specialist at fund manager Fidelity International in Sydney, citing U.S. political turmoil and Brexit as looming worries, besides the trade war. "There's a lot of uncertainty out there," he said. In Asian hours, traders mostly shrugged off news that the Trump administration was considering de-listing Chinese companies from U.S. stock markets after the reports were hosed down by Treasury officials. Elsewhere, factory activity surveys in China suggested there were some signs of improvement this month, though analysts believe the gains cannot be sustained and forecast further economic weakness. In Australia, forecasts for a rate cut on Tuesday firmed with gathering economic gloom. Markets are pricing a better than 75% chance the Reserve Bank of Australia will reduce its cash rate for a third time this year. German inflation, British economic growth and U.S. manufacturing indicators are all due later on Monday, with U.S. employment figures at the end of the week. Anything short of expectations poses a risk to fragile sentiment. Against a basket of currencies the dollar edged higher to 99.165. The New Zealand dollar dropped as far as $0.6257, very close to a four-year low, as a survey showed sour business sentiment and made a case for a rate cut. The Australian dollar also drifted lower to $0.6756 on expectations of monetary easing. With markets largely baking in another rate cut, further moves in the Aussie will likely be driven by the RBA's tone and outlook, said Chris Weston, head of research at brokerage Pepperstone Group in Melbourne. Traders are expecting a lull in trade-war headlines as China takes a week-long holiday from Tuesday, which marks the 70th anniversary of the People's Republic of China. China's yuan held steady at 7.1219 per dollar. (Reporting by Tom Westbrook; Editing by Jane Wardell & Kim Coghill) Our Standards:The Thomson Reuters Trust Principles.  |
| Forex - Yuan Little Changed Despite Positive PMI Data - Investing.com Posted: 29 Sep 2019 10:20 PM PDT  © Reuters.Investing.com - The Chinese yuan was little changed on Monday in Asia even after the release of better-than-expected Manufacturing Purchasing Managers' Index (PMI) data. The USD/CNY pair last traded at 7.1226 by 1:17 AM ET (05:17 GMT), up 0.02%. Trading was relatively quiet on Monday before the70thanniversary of the People's Republic on Tuesday. On the data front, China's September official PMI and the Caixin Manufacturing PMI were both higher than expected, data showed on Monday. The country's official manufacturing PMI came in at 49.8 in September, slightly higher than the 49.5 expected by analysts but was the fifth month it's been below the 50 level which divides expansion from contraction. Meanwhile, the non-manufacturing PMI was at 53.7, compared with the expected 54.2. A Separate Caixin Manufacturing PMI, which focuses more on smaller, export-orientated firms, came in at 51.4, higher than the expected 50.2 and August's 50.4. The U.S. dollar index that tracks the greenback against a basket of other currencies was also near flat at 98.778. Sino-U.S. trade developments received some attention. Citing three unnamed sources. Reuters reported on Friday that the U.S. Administration was mulling de-listing Chinese companies from U.S. stock markets. The report later suggested that such moves were not imminent. The GBP/USD pair inched up 0.1% to 1.2297 as uncertainty over Brexit remains. Ireland's Tánaiste Simon Coveney said on Friday that the EU was ready to negotiate, but that the U.K. had not yet sent a proposal for a Brexit deal. The U.K. is expected to leave the EU on Oct. 31. The NZD/USD pair lost 0.4% to 0.6266 on weak business confidence numbers. The AUD/USD pair also slipped 0.2% to 0.6754. 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.  |
| PODCAST: How to start investing with forex (Money Hacks, Ep 55) - The Business Times Posted: 30 Sep 2019 03:00 AM PDT  Mon, Sep 30, 2019 - 6:00 PM Money Hacks Ep 55: How to start investing with forex 8:51 min Synopsis: In this fortnightly podcast series on Mondays, The Business Times and The Straits Times break down actionable financial tips. This episode focuses on foreign exchange, specifically, how one can approach FX as another avenue for investment. We speak with Sumeet Bhambri, Standard Chartered's regional head of wealth management for Singapore, Asean and South Asia, for his take on FX investing. He tackles our questions: 1. What is FX? (0:40) 2. How do we use FX as an investment vehicle? (2:06) 3. What tools can we use to help us? (5:52) Produced by: Chris Lim & Lee Kim Siang Edited by: Adam Azlee Dear readers, We are conducting consumer research to find out what types of content you like. Please click on the link below to participate in a short survey which will help us serve you better. Respondents stand a chance to win $100 shopping vouchers and get invited to participate in consumer interviews. Link: https://sph.au1.qualtrics.com/jfe/form/SV_4MwYEyWCtmRKUHH Like, subscribe and rate our Money Hacks podcast on: Feedback to: podcast@sph.com.sg Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.  |
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