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- European session review: USD strengthens amid growing fears of renewed U.S.-China tensions
European session review: USD strengthens amid growing fears of renewed U.S.-China tensions
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 08:00 | Eurozone | Manufacturing PMI | April | 44.5 | 33.6 | 33.4 |
| 08:30 | Eurozone | Sentix Investor Confidence | May | -42.9 | -41.8 |
USD rose against most major currencies in the European session on Monday as markets fret over a growing potential for renewed tensions between the world's two biggest economies. The U.S. dollar index (DXY), measuring the value of the U.S. currency against other major global currencies traded 0.31% higher at 99.39.
During a Fox News interview on Sunday night, the U.S. President Donald Trump again blamed China for the coronavirus outbreak. "I think they [China] made a horrible mistake and didn't want to admit it," Trump said. He also suggested the U.S. could "terminate the deal", which was signed in January, and added that "tariffs at a minimum are the greatest negotiating tool that we have ever devised and we never used for negotiation".
Trump's comments came hours after the U.S. Secretary of State Mike Pompeo stated that there was "a significant amount of evidence" that the virus emerged from a laboratory in the Chinese city of Wuhan.
The latest attacks of the U.S. top officials raised worries over another spat between China and the U.S., overshadowing the beginning of the re-start of business and factory activity in the U.S.
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