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US Dollar Rallies As Equities Bounce Back, Business Optimism Jumps

The US dollar is rallying against several currency competitors on Tuesday as the stock market bounces back following Black Monday 2020. But is the spark triggered by central bank stimulus and expected cuts to interest rates at next week’s policy meeting or is it a dead cat bounce. Where does the greenback go from here?

US Dollar Slips on Jerome Powell Testimony, Labor Conditions

The US dollar is trading modestly lower on Tuesday as Federal Reserve Chair Jerome Powell testified in front of lawmakers. The greenback is also heading lower on mixed economic data that showed a tightening labor market but growing business optimism. Despite the greenback taking a breather, the buck is still enjoying a strong start to 2020.

US Dollar Sinks As Phase One US-China Trade Deal Signed

The US dollar slumped midweek as the US and China officially signed the first phase of a comprehensive trade agreement. This comes as December inflation was subdued and business optimism fell short of analysts’ expectations. Still, the greenback is trading relatively higher against a basket of currencies this month.

US Dollar Strengthens As Wholesale Prices Fall

The US dollar is strengthening on Tuesday after the US government reported that wholesale prices slumped last month, defying market forecasts. Investors are also waiting for the Federal Reserve minutes from its September policy meeting, as well as bracing for this week’s tumultuous renewed US-China trade negotiations in Washington.

US Dollar Strengthens on Trade Concessions, Higher Inflation

The US dollar is strengthening on Tuesday, buoyed by the White House delaying tariffs on Chinese imports until December and higher consumer prices in July. The greenback was capped on greater expectations over the central bank cutting interest rates again next month.

US Dollar Rebounds As Markets Recover From Trade War Fallout

The US dollar is rebounding on Tuesday as global financial markets recover from the latest development in the US-China trade war. Despite trade war fears dampening the US economy, experts say that America holds the upper hand because of how strong it is performing. Investors are also combing through recent trade pricing data.

Euro Recovers From Yearly Lows on Trade Optimism and US Politics

The euro today dropped to new 2019 lows against the US dollar in the early European session as the selling pressure on the single currency mounted. The pair reversed its losses later in the session as investor sentiment shifted and the US dollar gave up some of its earlier gains.

EUR/USD Trades Sideways on Weak German Trade Balance Data

The EUR/USD currency pair today traded sideways for most of the European session as the markets reacted to empty dockets both in Europe and the United States. The release of the German trade balance data late in the Asian session did not provide any impetus to the single currency as the pair continued to trade sideways.

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