Dollar falls on global economic slowdown concerns

2019-08-14 13:35:54 GMT (Economies.com)
Dollar falls on global economic slowdown concerns

US dollar fell today, to resuming its losses, on investors' risk-aversion after the release of weak Chinese and European data the renewed the global economic slowdown concerns.

 

Dollar shed more than 0.1% to 97.67 points, from the opening of 97.80 points, with a high of 97.85 points.

 

Dollar rose yesterday by 0.5%, its first gain in the last four days, on improved risk appetite after the US announced delaying the tariffs increase decision on Chinese imports.

 

Trump’s administration decided to delay the decision to impose a 10% tariffs increase on Chinese imports worth $300 billion to mid-December as the US Trade Representative's office said, instead of September 1st.

 

Chinese Ministry of Commerce stated that trade officials from the two countries spoke by phone and agreed to speak again within two weeks.

 

These news raised sentiment in global markets, but retreated after weak Chinese data today, which have renewed the slowdown fears over the Chinese economy.

 

China released its reading for the industrial production y/y reading, which rose by 4.8% vs. 6.3%, the slowest pace in more than 17 years, in addition to a slowdown in retail sales in the same period, while the German economy showed a contraction during the second quarter of this year, as well as the European economy slowing during the 2nd quarter.

 
 
 
  Symbol Last Change Chg.%
1.1134
0.0072
0.6495%
1.3198
0.0061
0.4670%
Tadawul
8133.72
67.30
0.83%
16.860
0.288
1.738%
58.796
-0.314
0.531%
63.72
-0.62
0.96%
1474.830
14.985
1.026%
 
 
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