The US dollar fluctuated during week\u2019s trading session, as demand for safe haven currencies declined. Market participants were interested in the dollar and demand was strong at the beginning of last week’s session.<\/p>\n
This is because the markets witnessed large selling, especially in the emerging markets in light of the Turkish financial crisis which led to increased demand for safe currencies.<\/p>\n
US economic data also helped support the greenback as US retail sales figures came in higher than market expectations, pushing the dollar index to a 13-month high on Wednesday.<\/p>\n
However, the high level of risk in the market led to some changes in the USD\u2019s movement, and its price fell slightly in the second half of last week. Media reports that Beijing will send a delegation this week to the United States to hold low level trade talks led to a drop in demand for the price of the US dollar as a safe haven.<\/p>\n
The dollar may see further declines this week as the US-China talks have shown positive results, and this could ease global trade tensions and lower demand for safe haven currencies.<\/p>\n
However, let\u2019s not forget about the Fed’s next monetary policy meeting, which could earn the dollar some support, especially if the results indicate an increased expectation that the Fed will raise interest rates twice this year.<\/p>\n
As for the euro, the single European currency managed to rise against most major rivals during last week’s trading session, although it faced some difficulties in light of the currency crisis in Turkey.<\/p>\n
At the beginning of last week, the euro fell due to concerns over the spread of the Turkish financial crisis, which dominated the movement of markets to the rest of the European markets.<\/p>\n
The single currency fell to a 13-month low against the US dollar on Tuesday, despite the positive results of Eurozone GDP estimates showing a slight economic growth in the second quarter of this year.<\/p>\n
However, as the Turkish lira strengthened and rallied mid-week, the euro also started to recover. The euro continued to rise amid easing market fears around the lira, and optimistic economic data from the euro zone.<\/p>\n
Expectations of a decline in the Turkish lira crisis could help the euro move forward, especially if the euro zone PMI figures are positive.<\/p>\n","protected":false},"excerpt":{"rendered":"
The US dollar fluctuated during week\u2019s trading session, as demand for safe haven currencies declined. Market participants were interested in the dollar and demand was strong at the beginning of last week’s session. This is […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[49],"tags":[28,27,52,50,77,51,11,25,29],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/757"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=757"}],"version-history":[{"count":2,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/757\/revisions"}],"predecessor-version":[{"id":760,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/757\/revisions\/760"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/758"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}