US Dollar Index surges to near 99.00 due to trade optimism, eyes on US-China trade talks
|- The US Dollar Index receives support from trade optimism following the US-EU trade deal.
- US-China trade talks are scheduled to resume on Tuesday, after five hours of negotiations were held in Stockholm on Monday.
- President Trump ordered the resumption of trade negotiations with Cambodia and Thailand after the end of a five-day conflict.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is continuing to gain ground for the fourth successive session and trading around 98.70 during the Asian hours on Tuesday. The Greenback receives support from trade optimism, driven by the United States (US)-European Union (EU) trade agreement finalized on Sunday, setting 15% tariffs on most European goods, taking effect on August 1.
Additionally, traders keep their eyes on further developments in the US-China trade talks. The discussions are set to resume on Tuesday after top economic officials from both nations held over five hours of negotiations in Stockholm on Monday. However, US President Donald Trump also highlighted on Monday that countries refusing to negotiate separate trade deals could face tariffs ranging from 15% to 20%, well above the 10% rate set in April.
President Trump announced in a social media post Monday that resume trade negotiations with Cambodia and Thailand after both countries ended a five-day fight along their disputed border. “By ending this War, we have saved thousands of lives. I have instructed my Trade Team to restart negotiations on Trade,” Trump added.
The US Federal Reserve (Fed) is anticipated to keep the benchmark interest rate steady between 4.25% and 4.50% on Wednesday. The FOMC press conference will be observed for any signs that rate cuts may start in September. Traders are also awaiting key economic data this week, including the Q2 Personal Consumption Expenditures (PCE) inflation report and July’s Nonfarm Payrolls, for further insight into the health of the US economy.
US Dollar PRICE Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.10% | 0.14% | -0.01% | 0.00% | 0.03% | 0.20% | 0.08% | |
| EUR | -0.10% | 0.02% | -0.15% | -0.10% | -0.06% | -0.01% | -0.01% | |
| GBP | -0.14% | -0.02% | -0.18% | -0.13% | -0.07% | -0.03% | -0.05% | |
| JPY | 0.01% | 0.15% | 0.18% | 0.02% | 0.06% | 0.16% | 0.22% | |
| CAD | -0.00% | 0.10% | 0.13% | -0.02% | -0.03% | 0.20% | 0.07% | |
| AUD | -0.03% | 0.06% | 0.07% | -0.06% | 0.03% | 0.06% | 0.02% | |
| NZD | -0.20% | 0.01% | 0.03% | -0.16% | -0.20% | -0.06% | -0.02% | |
| CHF | -0.08% | 0.00% | 0.05% | -0.22% | -0.07% | -0.02% | 0.02% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.