U.S. Dollar Falls As China Retaliates Against U.S. Tariffs
05 Febbraio 2025 - 5:33AM
RTTF2
The U.S. dollar continued to trade lower against other major
currencies in the Asian session on Wednesday, as China imposed
tariffs on U.S. goods, like as liquefied natural gas and oil.
China's Finance Ministry said it will impose a 15 percent duty
on imports of coal and liquified natural gas from the U.S. Also,
there will be 10 percent additional duty on imports of crude oil,
agricultural equipment and automobiles from the U.S. from February
10.
Traders are cautious and are concerns about a global trade war
after President Donald Trump decided to impose tariffs on imports
from China, Mexico and Canada, with the trading partners
retaliating with counter tariffs.
Positive sentiment was generated in reaction to a report showing
job openings in the U.S. fell by much more than expected in
December, leading to some optimism about the outlook for interest
rates.
The Labor Department released a report on Tuesday showing job
openings in the U.S. tumbled to 7.6 million in December after
climbing to an upwardly revised 8.2 million in November. Economists
had expected job openings to dip to 8.0 million from the 8.1
million originally reported for the previous month.
The U.S. dollar traded lower against its major rivals since
Monday.
In the Asian trading today, the U.S. dollar fell to a 5-day low
of 1.0410 against the euro and a 9-day low of 1.2506 against the
pound, from yesterday's closing quotes of 1.0371 and 1.2475,
respectively. If the greenback extends its downtrend, it is likely
to find support around 1.06 against the euro and 1.27 against the
pound.
Against the yen and Swiss franc, the greenback slid to nearly a
2-month low of 153.08 and a 1-week low of 0.9029 from Tuesday's
closing quotes of 154.15 and 0.9054, respectively. The greenback
may test support around 150.00 against the yen and 0.89 against the
franc.
Against the Australia and the New Zealand dollars, the greenback
dropped to an 8-day low of 0.6274 and a 5-day low of 0.5675 from
yesterday's closing quotes of 0.6250 and 0.5647, respectively. On
the downside, 0.89 against the franc and 0.66 against the aussie
are seen as the next support levels for the greenback.
The greenback dropped to more than a 2-week low of 1.4296
against the Canadian dollar, from yesterday's closing value of
1.4339. The next possible downside target for the greenback is seen
around the 1.42 region.
Looking ahead, U.K. S&P Global services and composite PMI
for January and Eurozone PPI for December, are slated for release
in the European session.
In the New York session, U.S. MBA mortgage approvals data, U.S.
and Canada trade data for December, services PMI data for January
and U.S. EIA crude oil data are set to be published.
Grafico Cross US Dollar vs Yen (FX:USDJPY)
Da Gen 2025 a Feb 2025
Grafico Cross US Dollar vs Yen (FX:USDJPY)
Da Feb 2024 a Feb 2025
