The EUR/USD fell sharply during Thursday’s New York session as the dollar strengthened and US yields rose, as the United States and China trade negotiations continue to drive markets mood.
Media outlets have reported that China had invited US negotiators to meetings in Beijing, suggesting there are some remaining issues to sort out. Meanwhile, the South China Morning Post (SCMP) has reported that a high-profile signing ceremony of the Hong-Kong bill may anger China, which is closely watching the events.
Earlier in the day, the minutes of the latest European Central Bank meeting were published. A plea for patience was made to allow the measures taken in September to work through the economy, supporting a wait and see posture at the current juncture. On Friday, Christine Lagarde will be speaking for the first time as the ECB President.
US macroeconomic data was mixed. While the Philly Fed Manufacturing Index came in above expectations (printing 10.4 in November from 5.6 previous and 7 of consensus), last week’s initial jobless claims and existing home sales disappointed.
Media outlets have reported that China had invited US negotiators to meetings in Beijing, suggesting there are some remaining issues to sort out. Meanwhile, the South China Morning Post (SCMP) has reported that a high-profile signing ceremony of the Hong-Kong bill may anger China, which is closely watching the events.
Earlier in the day, the minutes of the latest European Central Bank meeting were published. A plea for patience was made to allow the measures taken in September to work through the economy, supporting a wait and see posture at the current juncture. On Friday, Christine Lagarde will be speaking for the first time as the ECB President.
US macroeconomic data was mixed. While the Philly Fed Manufacturing Index came in above expectations (printing 10.4 in November from 5.6 previous and 7 of consensus), last week’s initial jobless claims and existing home sales disappointed.