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Friday, November 29, 2019

Forex - U.S. Dollar Stays Little Changed After Strong Data; HK Concerns Weigh

© Reuters.  © Reuters.

Investing.com - The U.S. dollar stayed little changed on Friday in Asia following the release of strong economic data earlier this week.

The U.S. Dollar Index last traded at 98.250 by 12:45 AM ET (04:45 GMT), down 0.04%. Data showed this week that the U.S. economy grew at a 2.1% annualized rate, compared to 1.9% in the first reading. The data was in contrast to other indicators showing a slowdown in global activity.

In a separate report, durable goods gained 0.6% after falling 1.4% in the prior month.

Sino-U.S. trade progress remained in focus after U.S. President Donald Trump approved two bills that back Hong Kong’s anti-government protestors. While China has vowed to retaliate, it has not taken any action so far and it is unclear if that will have any bearing on trade talks.

The next batch of American tariffs on Chinese goods are due to begin on Dec. 15.

The U.S. equities and bond markets were closed on Thursday for the Thanksgiving Holiday.

The GBP/USD pair was near flat at 1.2915 as U.K. Prime Minister Boris Johnson's Conservative Party has firmed in opinion polls ahead of the Dec. 12 election.

The EUR/USD pair inched up 0.1% to 1.1011.

The USD/JPY pair slipped 0.1% at 109.45 as falling Chinese and Hong Kong stocks sent the safe-haven yen slightly higher.

The AUD/USD pair and the NZD/USD pair gained 0.1% and 0.4% respectively.

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