Daily news: Japan and the US  meet today for trade talks

Daily news: Japan and the US meet today for trade talks

  • BOJ governor Kuroda made a speech today during the scheduled press confidence at 10:30 MT time. Previously he made some dovish comments about easing monetary policy of Japan. Other BOJ board members noted that the easing of the bank policy can have negative impact on the national economy. In other news for the JPY, the meeting of Japanese economy minister Toshimitsu Motegi and the US trade representative Robert Lighthizer for trade talks is planned to be today at 15:30 MT time. For now, USD/JPY is trading at its July’s highs near the resistance at 113.06. The next resistance is at 113.57. We will see how today’s negotiations will influence the pair. If the outcome is positive for the Japanese yen, then the price for USD/JPY will go downwards the support at 111.85.

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  • The level of consumer confidence of the US will be released today at 17:00 MT time. It is expected to be at 132.2, lower, than in the previous month. As for EUR/USD, yesterday it was supported by the hawkish comments of Mario Draghi. However, the bulls could not hold the price for a long time after nearly reaching the resistance at 1.1830. The support to keep an eye on is at 1.1644.

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  • Chinese vice commerce minister made comments regarding the possibility of trade dialog between China and the US. Among the key notes, he hoped that the US would make more positive solution to this problem. Moreover, he mentioned, that the trade risks could be eliminated by the growth of domestic demand.
  • European leaders keep struggling with Brexit. While German chancellor Angela Merkel tries to cool the situation down, French president Emmanuel Macron acts very strictly with attempts to keep French borders and transport attempts open. Right now GBP/USD is trading near the 100-day MA at 1.3140. The next resistance is at 1.3231. If the market is bearish, the support is at 1.2988.

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