The dollar remained flat-lined as positive data out of China and the European Union (EU) eased concerns over the global economy resulting in investors turning their attention to equities following upbeat earnings this week.
This month, housing prices in China grew at it’s fastest rate since since April 2017, easing concerns over China’s slowing economy. Meanwhile German ZEW economic sentiment exceeded expectations of 0.8 as it rose to 3.1. Today’s good news from Health Sector giants Johnson & Johnson and UnitedHealth saw both share prices increase in further adding to positive investor sentiment in equities.
The U.S. dollar index which measures the U.S dollar’s strenght against a basket of six major currencies rose 0.09% to 97.03 as of 11:40 EDT today.
However the dollar slipped 0.08% to 111.98 against the safe haven yen.
In the United Kingdom, Brexit talks stalled within government. Opposition leader Jeremy Corbyn told The Guardian that “The government doesn’t appear to be shifting the red lines because they’ve got a big pressure in the Tory party that actually wants to turn this country into a deregulated low-tax society which will do a deal with Trump. I don’t want to do that”. The two sides at this time cannot agree on a customs union or workers rights.
GBPUSD dropped 0.4% to 1.3049.
USDCAD slipped 0.07% to 1.3352
EURUSD fell 0.1% to 1.1292