Doubts as to whether the United States and China could reach a preliminary trade deal on Thursday pushed up safe-haven currencies such as the yen and the Swiss franc and put pressure on the yuan.
In addition, data on retail sales, industrial production, and investment in China turned out to be weaker than expected, which led to the depreciation of the Australian dollar, which dipped the day before amid weak employment data, to a monthly minimum. By the early morning, the “Australian” was trading at $ 0.6799, down 0.56%.
US-China trade negotiations have stalled over disagreements over agricultural purchases, as Beijing does not want a one-way deal in favor of the United States.
The yen strengthened against the dollar by 0.09% to 108.71, previously reaching 108.66. The Japanese currency added 0.17% to the euro to 119.56 per euro and was near the monthly maximum reached the day before.
Swiss franc against the euro rose 0.1% to 1.0885, near the peak of yesterday at 1.0879.
Yuan on the mainland market was trading without distinct dynamics at the level of 7.0197, moving away from the three-month high reached on Friday.
The euro fell by 0.11% to $ 1.0994.
The dollar index increased against the basket of major currencies by 0.1% to 98.42.
The leadership of the US central bank expects a "stable growth" of the US economy, while the effect of lowering interest rates will fully manifest itself later, and low unemployment will support consumer spending, said Jerome Powell, chairman of the Federal Reserve System, in his Wednesday’s speech in Congress.
GBP is down by 0,16% до $1,2827.
EURUSD: Sell. Entry point – 1, 1000. Take profit – 1, 0982. Stop Loss – 1, 1026.
GBPUSD: Sell. Entry point – 1, 2838. Take profit – 1, 2800. Stop Loss – 1, 2854.
AUDUSD: Buy. Entry point – 0, 6798. Take profit – 0, 6813. Stop Loss – 0, 6776.