CNY

An early-week rebound in the dollar is losing steam this morning as markets shift focus toward macroeconomic indicators and await developments in trade negotiations between the US and China. The greenback is trading slightly lower against a basket of its most-traded peers, benchmark ten-year Treasury yields are almost unchanged, and equity futures are positioning for modest gains at the North American open. Data published yesterday showed US labour markets cooling only slightly in April, even as business and consumer confidence measures plunged. According to the closely-watched Job Openings and Labor Turnover survey, job postings increased by 191,000 to 7.4 million...

The dollar is back on the defensive as June begins, retreating amid a worsening in trade tensions between the United States and its global counterparts. On Friday, President Donald Trump announced he would double steel tariffs to 50 percent, again raising taxes on American consumers while prompting fears of a new round of countermeasures from Canada and the European Union. China yesterday accused the US of “seriously violating” the trade ceasefire agreed in Geneva last month, noting that Washington has imposed a series of “discriminatory restrictive measures,” including restrictions on chip design software, warnings against the purchase of Huawei products,...