US Dollar Trading Stronger Over Rising Optimism on US-China Trade Negotiations
Arslan Butt • 1 min read
The US dollar is enjoying some support and trading strong against its major peers from the optimism surrounding the US-China trade war. At the time of writing, the US dollar index DXY is trading at around 99.14.
However, the gains remain capped as trade tensions continue to dominate headlines. Despite positive developments, there are reports that the US is considering delisting Chinese companies from American stock exchanges, which could further worsen tensions between the two countries. On Sunday, however, there were some reassurances from the US Treasury Department that this will not happen anytime soon.
This week is a busy one from a fundamentals point of view with several important economic data scheduled to come out. However, trade war headlines could be fewer in number over a week-long holiday starting on Tuesday in celebration of the 70th anniversary of People’s Republic of China.