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FOREX-Dollar dips as European manufacturing data in focus

(New throughout, updates prices, market activity and commentsto U.S. market open, new byline, changes dateline, previousLONDON)

By Karen Brettell

NEW YORK, April 15 (Reuters) - The dollar was modestlyweaker against the euro on Monday as investors focused onEuropean manufacturing data due on Thursday for signs thatgrowth in the region is improving.

Improving European data would likely bolster risk appetiteand send equities prices higher. That in turn could be negativefor the greenback as investors chase higher yieldingopportunities elsewhere.

"The dollar has shown a fairly strong relationship withrelative equity prices for the U.S. versus the rest of theworld, and to the extent that we move into an environment wherenon-U.S. asset markets begin to perform ... we may see atactical move lower in the dollar," Issa said.

Although the dollar tends to underperform when risk appetitegrows, data on Friday showed speculators bolstered their netlong dollar position in the latest week. It's now at its highestlevel since December 2015, while traders remain short the euro.

Data on Friday showing that China's exports rebounded inMarch while new bank loans rose more than expected helped boostrisk appetite on Monday.

Investors are also focused on U.S.-China trade talks, withany deal between the two countries seen as likely to removeheadwinds to global growth.

U.S. Treasury Secretary Steven Mnuchin said on Saturday aU.S.-China trade agreement would go "way beyond" previousefforts to open China's markets to U.S. companies and hoped thatthe two sides were "close to the final round" of negotiations.

U.S. negotiators have tempered demands that China curbindustrial subsidies as a condition for a trade deal afterstrong resistance from Beijing, according to two sources briefedon discussions, marking a retreat on a core U.S. objective forthe trade talks.

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Currency bid prices at 9:33AM (1333 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid

Previous Change

Session Euro/Dollar EUR= $1.1305$1.1301 +0.04% -1.43% +1.1321 +1.1296 Dollar/Yen JPY= 112.0500 112.0000 +0.04% +1.62% +112.0900 +111.8900 Euro/Yen EURJPY= 126.70 126.56 +0.11% +0.38% +126.7800 +126.4900 Dollar/Swiss CHF= 1.0031 1.0022 +0.09% +2.21% +1.0032 +1.0010 Sterling/Dollar GBP= 1.3114 1.3081 +0.25% +2.80% +1.3119 +1.3067 Dollar/Canadian CAD= 1.3307 1.3320 -0.10% -2.42% +1.3347 +1.3297 Australian/Doll AUD= 0.7176 0.7171 +0.07% +1.80% +0.7182 +0.7164 ar Euro/Swiss EURCHF= 1.1343 1.1324 +0.17% +0.79% +1.1346 +1.1325 Euro/Sterling EURGBP= 0.8620 0.8636 -0.19% -4.05% +0.8649 +0.8619 NZ NZD= 0.6759 0.6760 -0.01% +0.63% +0.6782 +0.6758 Dollar/Dollar Dollar/Norway NOK= 8.4863 8.4869 -0.01% -1.76% +8.5010 +8.4807 Euro/Norway EURNOK= 9.5970 9.5918 +0.05% -3.11% +9.6164 +9.5856 Dollar/Sweden SEK= 9.2469 9.2691 -0.16% +3.16% +9.2753 +9.2437 Euro/Sweden EURSEK= 10.4580 10.4750 -0.16% +1.89% +10.4795 +10.4569

(Additional reporting by Tommy Wilkes in LondonEditing by Paul Simao) ((Karen.Brettell@thomsonreuters.com; +1 646 223 6274; ReutersMessaging: karen.brettell.reuters.com@reuters.net))


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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