Forex – U.S. Dollar Down on Downbeat Consumer Sentiment Data; Yuan Slightly Lower

This post was originally published on this site

© Reuters. – The U.S. dollar edged down on Monday in Asia after the University of Michigan reported on Friday that U.S. consumer sentiment was below expectations.

It will be a holiday-shortened week, with most major financial markets closed on Friday for the start of the Easter holidays.

that tracks the greenback against a basket of other currencies was down 0.1% to 96.477.

The Michigan fell to a reading of 96.9, well below expectations for a reading of 98.1, following two-straight months that saw gains above expectations.

The data is unlikely to prompt the Federal Reserve to divert from its wait-and-see approach to monetary policy.

Meanwhile, the is trading slightly lower against the U.S. dollar even after Washington softened demand in the trade deal, Reuters reported on Monday, noting that US negotiators have tempered demands that China curbs industrial subsidies as a condition for a trade agreement.

On Friday, China released stronger-than-expected and credit data that showed exports rebounded last month, easing concerns of a global economic growth slowdown.

Data on fixed asset investment, industrial production and first quarter growth are set to be released on Wednesday.

The pair traded near flat at 0.7172. The Reserve Bank of Australia is due to publish the minutes of its latest policy meeting on Tuesday. The jobs report is due later in the week.

The pair inched up 0.1% to 1.3095. The EU granted a delay to Brexit until October 31 to allow moew time for U.K. Prime Minister Theresa May to come up with a deal that lawmakers are willing to support.

The pair slipped 0.1% to 111.92.

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.

This post was originally published on Link