Asian currencies are rising with the weakness of the dollar and the prices of oil collapse

Oil prices fell in early trading after the “OPEC+” Alliance agreed on Saturday a significant increase in production, strengthening global supplies. On the other hand, the Asian currencies jumped with the support of the wide decline in the value of the US dollar. The price of crude oil fell by 3.6%, at a time when the coalition continued to accelerate the rate of return to higher production levels, which led to a fall in prices. The Asian Currency Index has risen as the Taiwanese dollar has risen by 4%, the largest jump since 1988, and the Malaysian Ringitt has risen by 1% to reach its highest level since October. On the other hand, futures for US equity indicators in Asian trade fell 0.8%and continued their losses after President Donald Trump announced that he did not intend to talk to his Chinese counterpart this week. There is no financial trade on US Treasury effects during the Asian session, due to a holiday in Japan, as well as the closure of the Markets in Hong Kong and the continental China. The sale of US assets increases the demand for Asian currencies the money returns, as well as investors seeking investment alternatives in light of the wave of selling US assets, has contributed to the recent strengthening of Asian currencies. The financial markets have been calmed over the past two weeks, as the “S&P 500” index scored its highest profit in two decades on Friday, amid indications of talks with Asian countries and the decline in the severity of the tensions between China and the United States. In an interview with the “NBC” network that aired on Sunday, Trump said he was open to reducing customs duties imposed on Chinese imports to stimulate trade. “We are optimistic with caution, but traders will keep their fingers close to the sale button,” said Nick Todal, chief market analyst at Global Markets, adding: “If the transactions start to appear during the next week or two weeks, we can see a different high wave. A strong mandate obtained to perform the necessary economic reforms and negotiated with the Trump administration on fees. Surely this rise in Asian currencies is in anticipation of any indications of new central bank interventions to reduce faster rise in currency exchange rates, especially after speculators have expressed their extreme pessimism against the dollar since September. bought Taiwanese shares on Friday with a net worth of $ 1.2 billion, which is the largest flow in about a month, and the third highest purchase this year. have. “The natural exit of this commercial tension is a little in the shrinkage of the dollar,” says Brad Pecit, head of worldwide trade in ‘Geoffry’. -Arabia and Russia -began to decline from the long production cuts aimed at supporting prices, but cost the coalition market share for the benefit of competitors of oil producers. Shell is considering acquiring BP in corporate news. Scenario, according to the people. Responsible for Insurito operations, the block will lead. Economists at Goldman Sachs, including Yan Hatzius and David Merkel, wrote in a note on Sunday.