Forex News 24
  • RSS

news

Forex today: trade wars are expanding

Forex today: trade wars are expanding
админ
04/04/2018

Forex today 300x200 - Forex today: trade wars are expanding

  • The US dollar is steady today. Yesterday the US currency managed to close near 90, however, it could not stick there and slightly fell. Now the greenback is standing at 89.80. Let’s see whether trade wars tensions will push it up or down. Moreover, today the market is anticipating ADP Non-Farm Employment Change (15:15 MT time) and ISM Non-Manufacturing PMI (17:00 MT time) data. The forecast of both is weaker than the previous figures. Let’s look if the actual is greater.
  • Trade wars are not empty words. China has responded to US tariffs on its high-tech goods. According to China authorities, the country is planning to implement an additional 25 percent tariff on imports of 106 U.S. products. The tariff list includes soybeans, automobiles, chemicals and aircraft. Overall it will cost around $50 billion of U.S. imports. It is worth to say that the market did not expect such tough charges from China, especially on such important products as soybeans, and airplanes. However, tariffs will be implemented if only the USA enact their own after a period of public consultation.

1522842672 4fa781fb69fefb89ea187e5fc154d6b6 1200x1200 q90v3 - Forex today: trade wars are expanding

  • Gold rose based on the trade wars’ news. The yellow metal is climbing to 1,348. According to Rick Rule, a chief executive officer of Sprott U.S. Holdings Inc. (involved in the gold market for forty years), if trade wars expand, bullion has chances to surge to $1,400 – its highest level in five years. The most crucial drivers of the gold price is a confidence in the US dollar and the U.S. 10-year Treasury. As soon as they show negative figures, gold gains points.
  • S. government debt prices declined as investors are worried about the escalation of the US-China trade wars.

Look at the table for a better visualization.

1522842700 6e7a7c223e4105b630e3ba90a681cab0 1200x1200 q90v3 - Forex today: trade wars are expanding

Source: CNBC

  • The euro has lost some points, however, a bullish tendency is still actual. Today’s European data was not encouraging for the euro. The actual data were either the same or lower than the forecast.

1522842731 86c900595836052af25900b07a7f99b5 1200x1200 q90v3 - Forex today: trade wars are expanding

  • Trade wars worries did not leave out the Canadian dollar. The USD/CAD could not break the support at 1.28 and turned around. There are no important events for the Canadian dollar until Friday. Let’s wait whether trade wars tensions lift the USD/CAD pair. The resistance lies at 50.0 Fibonacci retracements.

1522842758 fd0fa76c3dadd2664663a9424d1479c4 1200x1200 q90v3 - Forex today: trade wars are expanding

  • In the environment of uncertainty, investors are putting money into safe haven assets such as Japanese yen. The USD/JPY pair is trading near 106. The support lies at 105.60.

1522842782 9979bfdacf87e6ddf67fc3a1764756d7 1200x1200 q90v3 - Forex today: trade wars are expanding

  • Both main oil benchmarks Brent and WTI plunged. Trading above $68 a barrel Brent fell to $67.10, WTI declined from $63.55 to $62.55.
  • No more important events were noticed for today. Follow the market news tomorrow with us.

Source

Related ItemsChinacurrencydebteuroFibonacciforexgoldJapanese yenlostmarketmetalpricetradetradingUSUS currencyUS dollarUSA

Leave a Reply

Cancel reply

Your email address will not be published. Required fields are marked *

Anti-spam: complete the taskWordPress CAPTCHA


news
04/04/2018
админ
Related ItemsChinacurrencydebteuroFibonacciforexgoldJapanese yenlostmarketmetalpricetradetradingUSUS currencyUS dollarUSA

More in news

273116ff712463a8fe797bc26d4bddd2 400x240 - Major policy change for the FED

Major policy change for the FED

админ30/08/2020
Read More
5ecd652efa96beb5e9daab8a81713e20 400x240 - Powell expected to preview Fed’s policy framework

Powell expected to preview Fed’s policy framework

админ27/08/2020
Read More
1cfd53e4dc84605be8f34b32e1fc08ff 400x208 - European markets look defensive

European markets look defensive

админ26/08/2020
Read More
Scroll for more
Tap

Last news

  • 273116ff712463a8fe797bc26d4bddd2 95x60 - Major policy change for the FED
    Major policy change for the FED
    news30/08/2020
  • 5ecd652efa96beb5e9daab8a81713e20 95x60 - Powell expected to preview Fed’s policy framework
    Powell expected to preview Fed’s policy framework
    news27/08/2020
  • 1cfd53e4dc84605be8f34b32e1fc08ff 95x60 - European markets look defensive
    European markets look defensive
    news26/08/2020
  • cbda506728f805be55e3597fd478b623 95x60 - Another record-setting session for U.S. stocks futures
    Another record-setting session for U.S. stocks futures
    news25/08/2020
  • 3c51d052540d35f9b8497fc0b1942d58 95x60 - $50M worth of cryptos or more left China
    $50M worth of cryptos or more left China
    news23/08/2020

Tags

american Asia Bitcoin China cryptocurrency currency Dollar dollar index economic Economists EUR euro Fed Federal Reserve forex futures GBP GDP Germany Index inflation interest rate interest rates Japan losses lost market markets monetary policy Oil price prices rate rates retail rise risk sales trade trade war trading Trump UK United States US

Copyright © 2019 Forex News 24, all rights reserved.

China’s stock market concludes lower
Boeing, Ford lead list of casualties in China-U.S. trade spat