Dollar set for third weekly gain as 'Trump trade' gathers pace
Dollar steady on US economic resilience, euro sags
Chinese yuan eyes further stimulus details
Bitcoin gains on 'Trump trade'
Updates prices at 1135 GMT
By Tom Westbrook and Amanda Cooper
SINGAPORE/LONDON, Oct 18 (Reuters) -The dollar headed for its third weekly gain in a row on Friday, helped by a dovish European Central Bank and strong U.S. data that is pushing out expectations for how fast U.S. rates can fall, particularly if Donald Trump wins the presidency.
A slew of economic data from China, including third-quarter growth figures, met with a muted response from markets, though subsequent comments from the country's central bank providing further details of Beijing's stimulus measures helped lift Chinese assets broadly.
Data on Thursdayshowed U.S. consumer spending beat expectations last month, which added to the belief among investors that U.S. rates may not need to drop as quickly as many thought just a couple of weeks ago.
The ECBcut euro zone interest rates by a quarter point on Thursday, in line with expectations, in a nod to the deterioration in economic growth across the region.
The euro, which is around its lowest since early August, is heading for its largest three-week decline against the dollar since 2022, down around 3%, as traders are now pricing in back-to-back rate cuts at the ECB's upcoming meetings.
Adding to the dollar's shine was the rising prospect of Trump winning the November election, since his proposed tariff and tax policies are seen as likely to keep U.S. interest rates high.
"I think there is potential for further decline in the euro. The ECB has cut rates and didn't give any hints about cutting in December, but given where inflation is, and given that the economic outlook is deteriorating, they are focusing on attempting to shore up the economy a bit more," City Index market strategist Fiona Cincotta said.
"I see potential for a future drop in the euro towards that $1.08 level," she said.
The euro EUR=EBS was last up 0.16% on the day at $1.0848, having fallen for 14 out of the last 16 sessions.
Separately, four sources close to the matter told Reuters the ECB was likely to cut again in December unless economic data suggests otherwise.
Meanwhile, markets have been disappointed at the lack of further details offered by Chinese authorities on plans to revive the economy, and the yuan CNY=CFXS is headed for its largest weekly fall in more than 13 months against the dollar.
The Chinese currency edged up after the People's Bank of China (PBOC) officially launched the Securities, Fund, and Insurance Swap Facility (SFISF) on Friday and as policymakers signalled the potential for further monetary easing ahead alongside other support measures to prop up the economy.
Those came shortly after Friday's data dump that showed China's third-quarter growth numbers were slightly better than expected, but property investment fell more than 10% in the first nine months of the year. Retail sales and industrial production picked up in September.
"The overall tone is actually not bad, given that the nominal GDP itself has also stabilised," Ho Woei Chen, an economist at UOB, said.
"The focus is actually on what the government is going to do next in terms of the size of the fiscal stimulus."
The offshore yuan CNH=D3 was last at 7.1190, leaving the dollar down 0.24% on the day. The Australian dollar AUD=D3, often used as a more liquid proxy for the yuan, was up 0.26% at $0.6713.
The dollar traded 0.14% down on the day against the yen JPY=EBS at 150.00, having broken above this levelthis week for the first time since early August.
The pound GBP=D3 was one of the stronger performers against the dollar, rising 0.27% to $1.3045after UK data showed retail sales grew more than expected in September, offering investors some reassurance about the strength of the British economy.
Bitcoin has got a lift from Trump's prospects BTC= since his administration is seen as taking a softer line on cryptocurrency regulation. It was last at $67,826, up more than 10% since Oct. 10.
World FX rates https://tmsnrt.rs/2RBWI5E
Additional reporting by Tom Westbrook and Rae Wee in Singapore; Editing by Jamie Freed, Kim Coghill, Andrew Heavens and Sharon Singleton
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
