Dollar rises on Trump's decision
US dollar rose today as global market's concerns over the US-China trade war eased after the US President Trump's decision.
Dollar also drew support from the US consumer price index data, which rose by 0.3% last month, higher than forecasts of 0.2%.
Trump’s administration decided to delay the tariffs increase on several Chinese imports until mid-December, and the US Treasury Department canceled tariffs on some other imports.
This temporarily exempted imports included iPhone mobiles, clothing, shoes, Xbox gaming devices and video games manufactured in China.
Meanwhile, by 17:31 GMT, dollar rose by 0.4% to 97.7 points, with a high of 97.8 points and a low of 97.3.
Oil extends gains as Brent jumps by 5%
Oil rose today as market’s hopes increased after Trump’s administration announcement which has eased the US-China trade dispute.
Trump’s administration decided to delay the tariffs increase on several Chinese imports until mid-December.
Which comes instead of Trump's decision to impose a 10% tariffs increase on Chinese imports worth $300 billion as of September 1st.
Devices such as cell phones, video games and clothes were exempted from the decision.
As of 16:30 GMT, dollar rose by 0.4% to 97.7 points, with a high of 97.8 and a low of 97.3.
In oil market, By 16:25 GMT, WTI rose by 4.3% to $57.3 per barrel, with a high of $57.4 and a low of $54.2.
Brent jumped by 5% to $61.3 per barrel, with a high of $61.4 and a low of $58.
Copper rises 2% as trade tensions ease
Copper rose today as US-China trade tensions eased after US officials announced intensive calls with the Chinese side, which have boosted market's hopes about demand on metals.
US Treasury Secretary Steven Mnuchin said President Trump's administration has delayed the tariffs increase decision on several Chinese imports until mid-December.
Which comes instead of Trump's decision to impose a 10% tariffs increase on Chinese imports worth $300 billion as of September 1st.
As of 14:45 GMT, dollar vs. a basket of currencies rose by 0.4% to 97.7 points, with a high of 97.8 and a low of 97.3.
By 14:41 GMT, copper futures (September delivery) rose by 2% to $2.632 per pound, with a high of $2.638 and a low of $2.567.
Trump delays tariffs on Chinese imports, including cell phones and video games
US Trump's administration announced today that it will postpone imposing tariffs on some chinese imports, such as iPhones, Xbox consoles and Chinese made laptops.
While the 10 percent tariffs increase on $300 billion in Chinese imports was supposed to start from September 1st, Trump exempted several of them from tariffs until December 15th.
Devices such as cell phones, video games, and smart home appliances such as Amazon Eco would have been targeted with tariffs for the first time in the US, if it wasn't for this exemption.