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Raising the euro with the optimism of US and Chinese trade talks increases Reuters sentiment



© Reuters. FOOTBALL PHOTOS: Picture shows euro banknotes and US dollars in Sarajevo

LONDON (Reuters) – On Monday, the euro rose and risky currencies like the Australian dollar grew as optimism for a US breakthrough in trade war talks encouraged investors.

The euro has been in the trading range against the dollar for several months as a growing weakness in the eurozone economy, offsetting declining expectations The Federal Reserve will again raise US interest rates this year

But after falling to a three-month low on Friday , the euro recovered, helped by improved investor sentiment, as hopes rose for the end of the US-Chinese trade conflict after both sides reported progress in the talks. the most liquid currency in the world, tends to perform well in times of nervousness of investors.

"Overall, the mood is still very positive in terms of trading prospects," says Ana Cole. in RBC Capital Markets, adding that he believes the "risky" mood will continue.

"If there's something we're going to encounter, you've got the background of pretty decent growth, and the Federal Reserve, which puts the prices on hold."

However, he said the better way to break the Fed to raise interest rates is in dollars / yen, as more Japanese investors choose not to hedge purchases of dollar-denominated assets that are already earned a decent return after the US dollar rises in 201

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Cole sees the dollar / yen rising to 120 yen per dollar by the end of 2019 from the current 110.55. The euro appreciated 0.3 percent to $ 1.1328, while the one who measured the US unit against a basket of competitors fell 0.2 percent to 96.687 in a quiet session with US markets closed for a Monday holiday .

profits, traders are betting on a weaker euro in the coming months. They expect the European Central Bank to maintain its easy monetary policy amid slow growth, cool inflation and political uncertainty.

Commerzbank (DE analysts) said the single currency also remains vulnerable to any outbreak in the United States. European trade dispute.

"There will be very little to report on the positive side of the euro if the conflict escalates, the smallest economic disturbances will undoubtedly be harmful to the euro in the light of the fragile state of the eurozone economy," they write. The Australian dollar, a barometer of global risky moods, rose 0.2 percent to $ 0.7154.

Sterling rose 0.3 percent to $ 1.2918 from last year's minimum levels, with investors awaiting the outcome of the negotiations between the UK and the European Union (19659016) Disclaimer: Fusion Media would like to remind you that the data contained on this website is not necessarily the case in the United States. All CFDs (stocks, indices, futures) and Forex prices are not available from exchanges, but rather from market makers so prices may not be accurate and may differ from actual market price, which means that prices are indicative and not suitable for commercial purposes. Therefore, Fusion Media bears no responsibility for any commercial loss you may suffer as a result of using this data.

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