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Forex today: trade wars swing

Forex today: trade wars swing
админ
05/04/2018

forex 1 300x180 - Forex today: trade wars swing

  • US-China trade wars worries slowed down as countries authorities calmed investors. The White House’s National Economic Council Director Larry Kudlow said: “Remember, none of the tariffs have been put in place yet. These are all proposals.” China’s ambassador to the U.S. declared that China is still aimed at negotiations.

1522923709 7a65f2a7abf0cb877bf47bbce72a6dba 1200x1200 q90v3 - Forex today: trade wars swing

  • The US dollar gained after trade wars risks declined. The greenback managed to climb to 90. The resistance lies at 90.20. The market is waiting for the jobs’ data (Friday, 15:30 MT time). According to forecast, it will be weaker than the previous one. So the US currency may react negatively and come back to 89.50.
  • The yen weakened. Yesterday the USD/JPY pair broke the resistance at 106.60 and moved further. The pair is trading above 107, the resistance lies at 107.35.

1522923732 9979bfdacf87e6ddf67fc3a1764756d7 1200x1200 q90v3 - Forex today: trade wars swing

  • Investors heaved a sigh of relief as trade tensions eased. As a result, stocks advanced.

1522923756 f36a0d78e7beb5cdf6c0f24f136322c5 1200x1200 q90v3 - Forex today: trade wars swing

Source: CNBC

  • Oil slightly rose because crude oil inventories data showed negative figures (-4.6M actual vs 1.4M forecast). Brent is above $68, WTI is near $63.50. However, the rise is not significant, oil is still under pressure.
  • The euro does not show big changes for past several days. Wednesday data could not support the single currency enough. The EUR/USD pair rose but could not break the high of the previous day and closed quite above the opening price. The consolidation within 1.2240-1.2350 may continue until US jobs’ data is released tomorrow.

1522923796 ece6c3cfd6736c88dad910dc12d69721 1200x1200 q90v3 - Forex today: trade wars swing

  • The pound slightly declined as the services PMI data appeared to be weaker than expected (51.7 vs 53.9). There is a high possibility that the sterling will continue to rise in the future. Moreover, the Bank of England is the next in the queue of the rate hikes. However, the economy should display encouraging figures.
  • The Australian dollar is weak despite encouraging economic data. Retail sales figures (Wednesday) and trade balance data (today) appeared to be greater than expected. There is a possibility that the slowdown of the economic growth in China is affecting the aussie. Moreover, China and Hong Kong markets are on holidays today.
  • The Canadian dollar lost positions after a great 2-days appreciation. Investors are looking for the trade balance data at 15:30 MT time today. The forecast is lower than the previous data. So there is a possibility that the USD/CAD will move further. The resistance lies at 1.28.

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Related ItemsAustralian dollarbalanceBank of EnglandChinacurrencyeconomicEUReuroforexHong KongInvestorslostmarketmarketsOilpricerateriseriskssalestradetradingUSUS currencyUS dollarWhite House

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news
05/04/2018
админ
Related ItemsAustralian dollarbalanceBank of EnglandChinacurrencyeconomicEUReuroforexHong KongInvestorslostmarketmarketsOilpricerateriseriskssalestradetradingUSUS currencyUS dollarWhite House

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