
Jump in to know the key market events and trading ideas for this week!
Key events ahead:
US core durable goods orders – 15:30 MT (12:30 GMT) time
The escalation of the trade war between the US and China has shaken the markets a lot. On Friday, China announced additional tariffs on $75 billion of American goods, including soybeans, automobiles, and oil. It did not take a long time for US President Donald Trump to respond as the US administration hit back with more tariffs on Chinese imports afterward and called for American companies to exit China's market. The risk-weighted currencies fell after the market opened, but managed to take back their positions on the comments that China wants to resolve the trade dispute with the US.
Jump in to know the key market events and trading ideas for this week!
USD’s rally takes a pause, while riskier assets are modestly rising.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!
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