
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
On Wednesday, the evergreen buck ascended versus a bunch of other rivals due to the fact that market participants waited for the outcome of trade negotiations between the US and China this week and also closely watched soaring political risks in America.
Estimating the greenback’s purchasing power versus a group of six main counterparts, the USD index managed to add 0.13% hitting 95.26, having dived by 0.69% yesterday.
Market sentiment has been underpinned by the revival of trade negotiations between America and China.
Market participants hope that these negotiations will relieve trade tensions between the world’s two leading economies, notwithstanding Donald Trump’s pessimism as for the prospects of success.
Expectations for progress on trade were generally compensated by worries over American political developments overnight.
The evergreen buck had already been pressured after on Monday US leader told that he didn’t appreciate Fed Chairman Jerome Powell’s intention to have rates lifted.
The key US bank has been lifting rates and it’s anticipated to proceed with it, planning two extra hikes in 2018.
The key US financial institution is expected to unveil the minutes of its August gathering a bit late, with market participants on the lookout for any changes in its outlook on inflation, trade war worries and the US economy.
The common currency headed south versus the evergreen buck. The currency pair EUR/USD inched down by 0.11% being worth 1.1557. On Tuesday, the euro soared by 1.09% versus the evergreen buck, reaching a one-and-a-half week maximum of 1.1600.
The common currency has rebounded since diving to 13-month minimums versus the evergreen buck the previous week in the face of worries as for contagion effects on EU banks from Turkey’s currency downtime.
The evergreen buck leapt versus the Japanese yen. The currency pair USD/JPY added by 0.16% trading at 110.41, soaring from an overnight minimum of 110.02.
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
Have a look at the key financial instruments on Monday, February 28. Geopolitics is currently on all news frontlines. Western nations escalated sanctions on Russia for the invasion of Ukraine.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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