Dollar retreats amid risk-off move

2019-12-09 15:35:06 GMT (Economies.com)
Dollar retreats amid risk-off move

The US dollar fell during the European session on Monday, to resume its losses, after pausing on Friday within recovery attempts from a 4-week low, after the release of weak Chinese data that renewed concerns about the impact of the ongoing trade war between the US and China.

 

The dollar index lost more than 0.1% to 97.56 points, after opening at 97.68, and hit an intraday high of 97.72.

 

The index rose by 0.3% on Friday, its first gain in the last 7 days, and the largest since Nov.22, within its recovery from a 4-week low of 97.36 points.

 

Those gains were buoyed by robust US jobs data, which reduced the odds for the US Fed to cut the interest rates for the fourth time this year.

 

The US Department of Labor revealed on Friday that the economy has added 266K new jobs in November, more than forecasts of 181K jobs, and higher than October's revised reading of 156K from 128K new jobs. 

 

During last week, the dollar index lost 0.6%, posting its first weekly loss in the last 3 weeks, after weak manufacturing and services data in the US.

 

Chinese exports fell for the fourth straight month in November by 1.1% compared to last year, lower than forecasts of a rise by 1%, which renewed concerns about the impact of the ongoing trade war between the US and China.

 
 
 
  Symbol Last Change Chg.%
1.1025
-0.0069
0.6179%
1.3073
0.0072
0.5534%
Tadawul
8334.35
-52.00
0.62%
18.104
0.083
0.458%
54.273
-4.505
7.665%
60.77
-1.26
2.03%
1570.630
13.715
0.881%
 
 
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