Dollar falls as Chinese trade data shows positive market mood

14.04.2020 - Evdokimov Roman
Dollar falls as Chinese trade data shows positive market mood

The dollar fell on Tuesday while risk currencies rallied after China’s trade data showed a more optimistic view than anticipated. The coronavirus death toll slowdown brought hopes to investors that the pandemic may be over soon.

Yuan-denominated exports declined 3.5% year-on-year, while imports gained 2.4%, according to customs data on Tuesday.

The Australian dollar was up 0.7%, at $0.6432, the New Zealand dollar rose 0.6%, at $0.6131, and the British pound increased 0.4%, at $1.2562.

Dollar-denominated Chinese exports are forecasted by analysts to fall 14% and imports 9.5%.

The Japanese yen steadied at 107.60 per dollar, after sliding a fraction from its two-week peak on Monday. The euro recovered its losses and traded at $1.0943.

A more positive mood in the markets was also seen in Asian equities. However, market fears remained and capped further gains in currencies.

Earnings for S&P 500 firms are anticipated to fall 10.2% in the first quarter, replacing the initial forecast of 6.3% gain in January.

Concerns about global recession continue to loom over the market, analysts said.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?