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The Dollar is stable: traders watch the Middle East

The Dollar is stable: traders watch the Middle East

Jim Anderson - Public Relations

On Tuesday, the US dollar remained virtually unchanged in Asia, as traders were cautious in light of the situation in the Middle East. By 6:00 Moscow time, the US dollar index against a basket of other currencies by 0.01% and was trading at 96.360. 

On Monday, US Secretary of Defense Mark Esper said the United States did not plan to withdraw troops from Iraq, refuting reports of a war letter informing Middle Eastern officials of the relocation of troops for withdrawal.

ISM Service Business Index (PMI) is coming out today. Data on production orders and trade balance will also be presented. On Monday, data showed, that in December the US manufacturing sector fell sharply: order volumes fell to an almost 11-year low, and factory employment fell for the fifth consecutive month. As for the China-US trade front, Washington and Beijing are due to sign the first phase of the trade deal on January 15. 

The USD/CNY pair fell by 0.3% to 6.9553. On Thursday, China will release the latest data on consumer and producer price indices. The AUD/USD pair lost o.2% and fell to 0.6929, while the NZD/USD pair remained unchanged at 0.6669.