USD is at two-week peaks

USD is at two-week peaks

Written by: PaxForex analytics dept - Monday, 21 January 2019 0 comments

In the first half of Monday's trading, the US currency is held close to two-week peaks to the basket of major competitor currencies amid investors' increased appetite for risk, despite the fact that the fundamental release signaled a slowdown in China's GDP growth to minimum levels for almost 30 years.

Early in the morning, the dollar index traded without sharp changes at around 96.28 after rising to 96.394 on Friday - the highest since early January.

The resumption of investors' appetite for risk was promoted, in particular, by the expectations of a thaw in US-China trade relations and the fact that Britain will avoid escaping from the European Union without a deal with the bloc.

However, the trade differences between Washington and Beijing have already begun to affect the growth of the Chinese economy. New data showed that the 2nd largest economy of the planet continued to slow down in the last quarter of 2018.

To the yen, the dollar lost 0.2 percent to 109.55 after rising to a three-week peak of 109.895 on Friday.

The single European currency added 0.1 percent to $ 1.1373, but still held near the two-week lows of $ 1.1353 reached late last week.

The British pound is trading without sharp fluctuations at the mark of $ 1.2867.

The Australian dollar grew by 0.1 percent to $ 0.7171 after falling 0.3 percent last Friday.

Meanwhile, oil prices rose to January highs after statistics showed that refining in China reached a record high in 2018, despite slowing growth in the national economy.

This morning, Brent crude rose 0.37 percent to $ 62.93 after rising above $ 63, the first time since the beginning of the new year. WTI rose 0.39 percent to $ 54.01, for the first time since the beginning of the year, breaking the mark of $ 54 per barrel.