Daily Currency Update

Get access to our expert daily market analyses and discover how your currency has been tracking with our exchange rate tools.

The Greenback falls as market participants weigh the latest U.S.-China trade signals

USD - United States Dollar

The U.S. dollar trades lower this morning as market participants weigh the latest U.S.-China trade signals. WSJ reported that U.S. and Chinese trade negotiators were looking to delay a fresh round of tariffs. At the time of this writing, the EUR/USD pair trades 0.12 percent higher towards 1.1077.

Furthermore, the U.S. dollar falls against the Canadian dollar after an announcement that senior U.S. and Canadian officials are set to fly to Mexico City today to work on final changes to the U.S.-Mexico Canada Agreement (USMCA) that could help the way for a vote in the U.S. Congress before the end of the year.

Technically speaking, the EUR/USD pair is trading in a downtrend, despite today’s bounce. For today, an important resistance level is 1.1092, and a key support level is 1.1053.

Key Movers

This week is full of risk events. The main event remains the fate of the tariffs, but this is a busy week that will include the U.S. CPI, Fed-FOMC and ECB meetings, and the U.K. election.

The U.K. did not produce any growth in the third quarter, leaving the country with an expansion rate of little more than 1 percent this year as Brexit uncertainty continues to take its toll. However, the Pound is trading higher as the Conservatives continue to show a strong lead in the polls.

Expected Ranges

USD/CAD: 1.3219 - 1.3293 ▼

EUR/USD: 1.1053 - 1.1117 ▲

GBP/USD: 1.3142 - 1.3203 ▲

AUD/USD: 0.6782 - 0.6831 ▼

NZD/USD: 0.6513 - 0.6596 ▼