U.S. Dollar Strengthens Against Majors
February 03 2019 - 8:24PM
RTTF2
The U.S. dollar drifted higher against its major counterparts in
the Asian session on Monday, as stronger-than-expected U.S. jobs
and factory data reduced fears over a slowdown in the U.S.
economy.
The Labor Department on Friday released a data showing an
addition of 304,000 jobs in January, the highest in 11 months, and
above expectation for 165,000 jobs.
Investors await further developments on the U.S.-China trade
dispute following meetings in Washington last week.
U.S. President Donald Trump and Chinese President Xi Jinping are
expected to meet on February 27 and 28 in the coastal city of Da
Nang to address issues that are more contentious.
The U.S. will increase tariffs on a number of Chinese imports if
there is no progress in talks by the March 1 deadline.
The greenback strengthened to a 10-day high of 109.79 against
the yen and a 5-day high of 0.9972 against the franc, reversing
from its early lows of 109.43 and 0.9945, respectively. On the
upside, 111.00 and 1.01 are possibly seen as the next resistance
levels for the greenback against the yen and the franc,
respectively.
The greenback reversed from its early lows of 1.1460 against the
euro and 1.3085 against the pound, rising to 1.1441 and 1.3056,
respectively. The greenback is seen finding resistance around 1.12
against the euro and 1.28 versus the pound.
The greenback appreciated to 5-day highs of 0.7223 against the
aussie and 0.6886 against the kiwi, from its previous lows of
0.7254 and 0.6906, respectively. The greenback is poised to target
resistance around 0.71 against the aussie and 0.67 against the
kiwi.
Having dropped to 1.3086 against the loonie at 10:00 pm ET, the
greenback changed direction and advanced to 1.3107. Next key
resistance for the greenback is seen around the 1.33 mark.
Looking ahead, U.K. construction PMI for January, Eurozone
sentix investor confidence index for February and producer price
index for December are due in the European session.
In the New York session, U.S. factory orders for November are
scheduled for release.
AUD vs US Dollar (FX:AUDUSD)
Forex Chart
From Apr 2024 to May 2024
AUD vs US Dollar (FX:AUDUSD)
Forex Chart
From May 2023 to May 2024