Manufacturing Data May Shake the USD
The United States will publish the ISM Manufacturing PMI on September 1, at 17:00 MT time (GMT+3).
Evergreen buck rallies against Japanese yen
On Friday, the evergreen buck was generally steady versus the safe-haven Japanese currency, taking in stride the lift in American levies on China’s goods, which came into effect and waiting for the resumption of negotiations between top statesmen of the world's two leading economies.
American leader’s tariff lift from 10% to 25% on $200 billion of China’s exports kicked in on Friday, and the Chinese government told it would strike back, driving tensions as the two leading economies pursue last-ditch negotiations to try salvaging a trade deal.
Chinese and American statesmen are going to get back to the talks later on Friday.
As some analysts pointed out, the given tariff lift didn’t appear to be a surprise. The financial markets are currently eager to know if the two sides managed to come to a compromise or not.
The evergreen buck was nearly intact demonstrating an outcome of 109.720 yen.
The greenback that went down to a three-month minimum of 109.470 overnight, has gone down by 1.2% versus the Japanese yen this week.
However, as the financial markets had been bracing for the American levy hike, and also considering underlying demand for the US currency by Japanese institutional investors, the evergreen buck might not have much further room to go down.
Versus the Swiss franc, the evergreen buck dived a bit to 1.0140 having slumped by about 0.5% yesterday, when it hit a one-month minimum of 1.0122 francs.
The Japanese yen and franc are prone to attracting demand in times of market turmoil as well as political tension.
As for the common currency, it soared by 0.15% hitting $1.1229 having reached a one-week maximum of $1.1251 yesterday.
Similar
Will There Be Any Changes in US Monetary Policy?
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
How Will USD React to US Consumer Confidence?
What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
Latest news
What Will Move the Market on September 27 – October 1?
Although Jerome Powell’s speech sounded hawkish on Wednesday, September 22, markets did not get scared and the main stock indices got bought back…
Turkey has Decreased Interest Rates, But is it a Buy?
Turkey’s central bank governor was at a crossroads: to hold interest rates and take a risk to be fired like it was for three governors before him, or to comply with the president, to cut rates, and to risk the market. Let’s find out, how to react to the rate cut.
Main Market Trends on September 23
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
Deposit with your local payment systems
