
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 jumped because fears strengthened that US leader might soon power an everlasting trade conflict with China by slapping duties on more China’s products.
American leader could slap levies on $200 billion more of China’s goods right after a public comment period on the fresh levies is over on Thursday. However, it’s not clear how rapidly it’s going to take place.
Market participants demonstrated high loyalty to the safe-haven US currency. As a result, it managed to jump versus key counterparts just like the UK pound and the euro.
The US currency was also backed by positive American indicators that justified further interest rate lifts by the key US bank.
Estimating the greenback’s purchasing potential versus a number of its main rivals, the USD index tacked on by up to 0.1% showing 95.442, which is not far off a two-week maximum of 95.737 hit during the previous trading session.
A downtime in Turkey’s currency as well as the US-China trade conflict have made the evergreen buck a safe haven for many traders looking for a reliable shelter. By the way, US leader is interested in the strong greenback, hoping it will put pressure on America’s foes.
Since Tuesday, the evergreen buck has managed to jump over 2% versus the South African rand as well as the Argentine peso. Moreover, it rallied more than 1% versus Colombian and Mexican pesos.
This year the evergreen buck has jumped versus every key currency except Mexico’s one and the Japanese yen. However, some market experts are assured that the evergreen buck might slump by the end of this year.
Besides this, the common currency dipped by 0.1% hitting $1.1597, while the UK currency slumped by 0.2 demonstrating a reading of $1.2827.
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.
A new week means new trading opportunities! Here are some events that can fluctuate the market actively…
The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.
The United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on August 5, 15:30 GMT+3.
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