Money: Dollar buoyed by caution as trade deal optimism wanes - - PressFrom - Canada
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Money Dollar buoyed by caution as trade deal optimism wanes

09:15  15 november  2019
09:15  15 november  2019 Source:   reuters.com

Trudeau talks new NAFTA with Mexico's president as Pelosi signals optimism on ratification

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SINGAPORE (Reuters) - The dollar found broad support on Friday as fresh signs of a global economic slowdown and little visible progress toward a Sino-U.S. trade truce put investors in a risk-averse mood. The latest evidence that the U.S.-China trade war has hurt the global economy was illustrated by

The dollar found broad support on Friday as fresh signs of a global economic slowdown and little visible progress toward a Sino-U.S. trade truce put investors in a risk-averse 12 election fuelled optimism that the Brexit impasse will finally end. It stood at .2881 and at 0.8555 pence per euro in Asian trade .

a close up of a piece of paper: Illustration photo of a U.S. five dollar note© Reuters/THOMAS WHITE Illustration photo of a U.S. five dollar note

By Tom Westbrook

SINGAPORE (Reuters) - The dollar found broad support on Friday as fresh signs of a global economic slowdown and little visible progress toward a Sino-U.S. trade truce put investors in a risk-averse mood.

The latest evidence that the U.S.-China trade war has hurt the global economy was illustrated by sub-par growth figures on Thursday from China and Japan, followed by lacklustre updates in Britain and Europe.

Overnight media reports also suggested negotiations to end the damaging dispute had stalled.

The Financial Times, citing unidentified people close to the talks, said an agreement may not be reached in time to avoid a new round of U.S. tariffs taking effect on Dec. 15.

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12 election fueled optimism that the Brexit impasse will finally end. The dollar found broad support on Friday as fresh signs of a global economic slowdown and little visible progress toward a U.S.-China trade truce put investors in a risk-averse mood.

Nov 12 (Reuters) - The dollar was broadly stronger on Tuesday on guarded optimism ahead of a speech by U.S Trump's lunchtime speech at The Economic Club of New York will be closely watched by investors anxious for any positive news about his administration's long-running trade war with China.

White House economic advisor Larry Kudlow told an event at the Council on Foreign Relations in Washington late on Thursday that a deal was "getting close", but offered no new details and similarly failed to shift the sentiment.

"No news on trade negotiations is becoming bad news," said CMC Markets' Chief Strategist in Sydney, Michael McCarthy.

The dollar clawed back some of the ground it gave to the safe-haven yen overnight, rising 0.1% to buy 108.55 yen, and kept hold of overnight gains against the Australian and New Zealand dollars.

Against a basket of currencies <.DXY>, the dollar last traded at 98.163. The euro was stable at $1.1020. Moves were slight as investors looked for concrete news on the trade front.

"Once that risk event's cleared, it would be a positive development," said Jason Wong, senior market strategist at BNZ in Wellington. "But until we've got the word from Donald Trump, no-one's really willing to get in front of it."

House Democrat Richard Neal talks new NAFTA with Liberals in Ottawa today

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The dollar was broadly stronger on Tuesday on guarded optimism ahead of a speech by U.S. President Donald Trump in which he is expected to delay a tariff decision on European automakers by six months, according to European Union officials.

NEW YORK (Reuters) - The dollar rose against most currencies on Wednesday especially those in emerging markets, as optimism over a U.S.-Mexico trade deal gave way to concern that a conflict over trade between Washington and Beijing was not about to end soon.

The next scheduled economic updates are Eurozone trade and inflation data due at 1000 GMT and the New York Fed manufacturing survey due at 1330 GMT.

Trade news has been scarce. Earlier in the week, Trump offered bluster but no fresh details in a policy address in New York.

The British pound, meanwhile, sat near peaks scaled overnight.

Sterling touched a six-month high against the euro and gained on the dollar as expectations that Britain's ruling Conservative Party might win a majority in a Dec. 12 election fueled optimism that the Brexit impasse will finally end.

It stood at $1.2881 and at 0.8555 pence per euro in Asian trade. "Markets now appear to be priced for a high likelihood of a majority Conservative government," RBC Chief Currency Strategist Adam Cole said in a note.

The Australian dollar nurses losses inflicted by an unexpected rise in unemployment on Thursday to trade at $0.6786. The kiwi was unmoved by Reserve Bank of New Zealand Governor Adrian Orr telling bankers in San Francisco that New Zealand was prepared to use unconventional policy tools.

The New Zealand dollar had jumped by a percentage point on Wednesday when the RBNZ unexpectedly left interest rates on hold.

China's yuan was steady at 7.0167 per dollar in offshore trade . Home price data is due (0130 GMT), a day after readings showed China's main growth engines all faltered more than expected in October.

(Reporting by Tom Westbrook; Editing by Kim Coghill)

Freeland heads to Washington for trade talks with U.S. and Mexico .
OTTAWA — Deputy Prime Minister Chrystia Freeland is headed to Washington for North American trade talks with another deadline looming. Officials from the continent's three countries have been holding talks aimed at speeding the ratification of the new United States-Mexico-Canada Agreement ahead of the U.S. Thanksgiving holiday weekend. The Privy Council Office said in a statement that Freeland would be meeting her American and Mexican counterparts, Robert Lighthizer, the Trump administration's trade czar, and Jesus Seade, Mexico's undersecretary for North America on Wednesday.

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