Banknotes Money Us Dollars Euro Currency Forex- CC via MaxpixelLONDON - 9 January 2018: The euro and commodity-linked currencies rose on Wednesday as optimism over U.S.-China trade negotiations improved investor sentiment and encouraged some selling of the dollar.Expectations of more easing in China also supported markets, with Asian shares rallying and European stocks rising at the open.Adam Cole, chief currencies strategist at RBC, said those factors were giving a “better tone for risk this morning. It’s all about a general risk-on mood.”News that Beijing and Washington had agreed to extend trade talks in Beijing for an unscheduled third day on Wednesday boosted oil prices, with U.S. West Texas Intermediate crude oil futures topping $50 a barrel for the first time this year. [O/R]That, in turn, helped spur demand for riskier assets and commodity-linked currencies.The euro rose 0.2 percent to $1.1464 as increased demand for currencies deemed riskier knocked the dollar lower.An unexpected fall in German industrial output for the third straight month had weighed on the euro on Tuesday. The drop underscored concern about a slowdown and the European Central Bank’s caution as it tries to wean the region off stimulus.The dollar index traded down 0.2 percent at 95.753.The Australian dollar, considered a barometer of sentiment towards China, rose 0.2 percent to $0.7155. “Commodity-linked currencies are performing strongly as a result.”The Norwegian crown was up more than a quarter of a percent.

Source: Egypt Today January 09, 2019 08:48 UTC