Tariff threats affect Chinese Yuan

Tariff threats affect Chinese Yuan

On Monday, Donald Trump’s fresh threats to lift levies on Chinese exports sent ripples through financial markets, thus affecting risk sentiment and backing safe-haven assets.

Over the weekend, US leader announced his plans to lift levies on $200 billion in Chinese goods from the current 10% to 25%, thus sending global equities down and spurring the safe haven appeal of the Japanese currency.

On the contrary, the Chinese yuan headed south to this year’s minimum as investors worried over the impact of the tariff lift on the world’s number two economy. Both the Australian and New Zealand dollars, whose countries have close economic ties with this leading Asian country, demonstrated similar tumbles.

As a matter of fact, riskier currencies, including the Turkish lira, Russian ruble, and Mexican peso also headed south on Monday.

Estimating the greenback’s purchasing potential versus its primary peers the USD index managed to gain 0.1% concluding the trading session at 97.34.

Besides this, the weekly Commitment of Traders Report from the US Commodity Futures Trading Commission uncovered that investors turned out to be the most bullish on the evergreen buck since December 2015, with bets of nearly $34.9 billion.

With Great Britain celebrating a bank holiday on Monday, the UK pound headed south by about 0.6% due to the fact the opposition Labour Party complained that UK Prime Minister Theresa May was disclosing details of their Brexit compromise, thus endangering an agreement.

Meanwhile, the common currency managed to hold its own versus the evergreen buck due to the fact euro zone business activity suddenly got better in April, while retail sales for March evaded an expected slump.


What to Trade on August 29 - September 2?
What to Trade on August 29 - September 2?

Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.

Monday started with volatility
Monday started with volatility

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.

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What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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