financial markets update

The US Dollar is the solitary most prevalent and dominant currency round the globe. The supply demand fluctuation establishing US dollar exchange rate verses other currencies. The foreign exchange rate is also unveiled to geo-political atmosphere amongst regions. The current development between US and China, the two political and economic powerhouses concerning the trade quarrel, anticipated to reinforce US dollar verses safe-haven currencies. With that in locus, numerous Asian currencies saw cautious advantages such as the Singapore Dollar and Philippine Peso. The Indonesian Rupiah and Malaysian Ringgit were slightly altered. In south Asia Indian rupee edged scarcely higher.

On Wednesday, the dollar descended more than 0.2 percent against the euro and pound. Euro surged to $1.0987 and pound ascended to $1.2228. The Australian dollar elevated from a week low-slung to $0.6747 and the New Zealand dollar escalated to $0.6313. The USD/CNY were kept fastened around 7.0730 for some weeks.

On Thursday, last week the Australian dollar escalated by 0.3% to two weeks high of $0.6782 and the kiwi dollar edged higher to $0.6320. The euro escalated by 0.1% to $1.1013 while Sterling was slightly changed, but closed at $1.2437. The dollar chopped to three months low-slung on Friday due to U.S.-China trade dialogs as well as amplified probabilities for an arranged British exit from the European Union. The dollar, however, cut fatalities versus the euro and clipped improvements against the yen. Sterling surged to more than three months peak versus the dollar, while the euro advanced to three weeks peak as risk appetite upsurges. On Friday, late afternoon trading, the dollar index was dejected by 0.4% at 98.318, after earlier deteriorating to a three and half months truncated of 98.197. The euro, meanwhile, escalated by 0.3% to $1.1034. Yen debilitated versus the dollar, which added by 0.3% to 108.33. Sterling rushed to more than three months peak of $1.2708.

Stocks were higher crossways all of the foremost indices on Wednesday renewed trade anticipation. The S&P 500 index upsurges by 26.25 points, Dow escalated by 181.97 points while Nasdaq escalated by 1.02% or 79.96 points. Crude oil rose by 0.08% to US$52.67 per barrel, while gold rose to US$1,511.70 per ounce. The stock market flawed higher on Thursday after President Trump tweeted regarding Friday summit with Chinese vice premier Liu He. Stocks expanded and Treasury yields jumped. The S&P 500 Index, Dow and Nasdaq rose 0.6%. Apple share, enlarged 1.4 percent, Intel rose by 1.3 percent and Conoco Philips surged by 1.7 percent. Ten years Treasury yields escalated past 1.65 percent. Crude oil rose US$1.02 to US$59.25, while gold fell by US$14.40 to US$1,498.90. On Friday, signs of improvement in U.S.-China trade

 dialogs sent stocks to the highest advantage in a week. The S&P 500 Index expanded by 1.09% to close at 2,970.27 after President Donald Trump announced the two sides decided to the outlines of an agreement that could be contracted as early as next month. The equity benchmark surged by 1.1% on Friday. The Dow jumped 319.92 points, or 1.21% to 26,816.59. The Nasdaq composite advanced by 1.34% and reached to 8,057.04. Amongst the greatest performer Apple shares ascended by 2.66% to hit a record high while Roku surged 4.71%.

Leave a Reply