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Barchart
Barchart
Rich Asplund

Dollar Rallies and Gold Falls on Possible US-China Trade Talks

United States China Gold BOJ China Central Television Japan

The dollar index (DXY00) Thursday rose by +0.77% and posted a 2-1/2 week high.  The dollar rallied moderately Thursday on a possible easing of US-China trade tensions after state-run China Central Television said the US has been proactively reaching out to China through various channels, seeking to negotiate on tariff issues.  The dollar extended its gains after the US Apr ISM manufacturing index fell less than expected. 

Limiting gains in the dollar was Thursday’s US economic news that showed weekly jobless claims rose to a 2-month high, and Mar construction spending unexpectedly declined, dovish factors for Fed policy.  Also, Thursday’s stock rally reduced liquidity demand for the dollar.

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