Title : Forex Trading Signals amp; Trade Setups To Watch For The Week
link : Forex Trading Signals amp; Trade Setups To Watch For The Week
Forex Trading Signals amp; Trade Setups To Watch For The Week
* Dollar overrules direction vs yen to trade lower
* Investors await Fed's Yellen congressional testament
* U.S. customer inflation data due on Friday
* Graphic: World FX proportions in 2017 http :// tmsnrt.rs/ 2egbfVh
( Updates throughout )
By Saqib Iqbal AhmedNEW YORK, July 11( Reuters)- The dollar fell to a more than
one-week low against a basket of major currencies on Tuesday ,
after U.S. President Donald Trump's eldest son released an email
chain citing Russian is supportive of his father before last year's
U.S. election .
Donald Trump Jr. was told a Russian attorney was offering
his father's presidential campaign incriminating information
about Democratic rival Hillary Clinton as part of Russian
government support, according to an email chain that he released
on Tuesday.[ nL1N1K209P ]
" At the least, these types of headlines play up
concerns about dysfunction in Washington and the powerlessnes of
this administration to pass any meaningful legislation ,
particularly related to fiscal stimulus ," responded Omer Esiner ,
chief sell psychoanalyst at Commonwealth FX in Washington .
U.S. Senate Republican leader Mitch McConnell said here on
Tuesday that the Senate would vote on a legislation to roll back
Obamacare next week and then move on to other legislative
business.[ nW1N1HW027 ]
The dollar index <.DXY>, which tracks the greenback against
six major rivals, became negative on the working day to trade down 0.28
percent at 95.751, after reaching 95.651, its lowest since July
3 .
Investors are waiting for U.S. Federal Reserve Chair Janet
Yellen's semiannual monetary policy witnes before Congress on
Wednesday and U.S. consumer inflation data on Friday .
Meanwhile, Fed Governor Lael Brainard said the Fed should
soon begin reducing its balance sheet, as long as financial data
on U.S. employment creation and proliferation regards up. Formerly balance sheet reduction
is under way, she will assess inflation before deciding on
further interest rates rises, she answered.[ nL1N1K10X8 ]
The greenback, which touched a four-month high-pitched against the
Japanese yens earlier in the session stimulation by the recent rise
in U.S. government bond harvests, overruled track to drop 0.16
percent to 113.85 yens. The euro rose to a 14 -month high-pitched of
$1.1479.
The Canadian dollar stole against its U.S .
counterpart as traders awaited an interest rate hike decision by
the Bank of Canada on Wednesday.[ nL1N1K20F4 ]
The greenback gained against the New Zealand dollar
as rising U.S. harvests, soft stock prices and a disappointing
report on domestic charge card spend sent investors fleeing
kiwi assets .
Sterling fell to an eight-month low against the euro after
the Bank of England Deputy Governor Ben Broadbent declined to
back up recent hints from other policymakers at the central bank
that suggested it may be moving toward conjuring interest rates .
[ nL4N1K240R ]