The American currency has been gradually declining in today’s Asia-Pacific session. In general, the market sentiment seems to be positive.
The US dollar index that indicates the value of greenback relative to a basket of six major currencies is trading mixed near 97.20. Investors’ optimism keeps the index above the key level of 97.
The trade talks between Washington and Beijing got in the spotlight again after the comments of White House economic advisor Larry Kudlow. He mentioned that the negotiations might be extended as it was not a time-dependent question.
The private sector credit index fell to its historical low in February. Earlier, the Reserve Bank of Australia announced that residential real estate credits advanced by 0.3% in February after a rise of 0.2% in January. Annually, the growth turned out to be only 4.2% which was the slowest pace since 1977.
However, the aussie dollar has been managing to ignore this negative data, perhaps, amid signs of reduction in financial risks.
The AUD/USD pair was trading at 0.7102 in the Asian session.
Meanwhile, the Australian currency firmed against the yen. The AUD/JPY pair inched up by 0.35% to 78.53.
The dollar/yen pair was trading around 110.70 after yesterday’s 110.63. The Japanese parliament approved a record budget for 2019 on Wednesday. It includes 2.03 trillion yen for the stimulus program meant to buoy the economy after a planned consumption tax hike.
In the meantime, things remain the same for the Russian ruble, yet the recent news raised some concerns. The US Congress passed several laws related to the Russian foreign trade. Besides, the ruble is not able to ignore the global tensions. The dollar/ruble pair rose by 0.16% to 64.94.
Basically, the Asian markets has been showing positive dynamic on Friday awaiting a breakthrough in the US-China trade negotiations.
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