Weak greenback boost Euro
On Thursday the popular USD fell during the Asian session while the desire for traditional safe-haven currencies continued to be suppressed following a retracement in global stocks. In the meantime, the other popular currency Euro recovered due to the expectations for a resolve over Italy’s budget conflict.
The greenback remained strong over the last two trading sessions while risk desire dropped upon concerns over a global growth retardation and the U.S-China trade dispute.
On Thursday the dollar index, which is a measure of its rate against 6 major rivals, slid about 0.1% to 96.62. The index lost about 0.12%in prior trading session.
Many experts assume that the medium-term trend of the USD will be determined by the monetary policy of the Federal Reserve.
Asia stocks mixed
In China, equities mainly remained in the red up to the close of the morning trading session while traders view continued to be wary. The Shenzhen composite slid about 0.3% while the Shanghai Composite fell by 0.54%
In the meantime, Hong Kong’s Hang Seng index was mostly in a range.
China’s exchanges have been strictly observed by traders while waiting for a decision of the continuing trade dispute among China and US They also anticipating the meeting between Presidents’s Xi Jinping and Donald Trump at the forthcoming G-20 gathering in Buenos Aires from November. 30 to December. 1.
Gold steady for now
On Thursday Gold continued to feel solid following a touch of the highest level in about 14 days in the last trading session. The enhanced risk desire was weighing on the greenback. U.S. gold futures fell 0.2% at $1,226.0 per ounce. Spot gold went 0.1% higher at $1,227.10 per ounce. Yesterday Gold prices were recorded as their strongest since the start of this month at $1,230.07 per ounce. ANZ analyst Daniel Hynes stated that
“Weakness in the dollar has supported investor appetite in the gold space,”
Turkish economy getting stronger
Turkish consumer confidence index rose to 59.6 in November 2018 from 57.3 of the previous month. That was recorded as the most powerful version since last August. The expectations raised for the financial condition in October and the overall economic situation from 72.8 to 77.4. On the other hand, expectations regarding unemployment worsened from 63.6 to 63.4. Now the Consumer Confidence in the country was average, about 75.03 Points from four years ago up to this year, touching the highest level of about 98.68 Points in February 2004 but touching a record low of 55.66 Points in this month.