South Africa got ‘junk’ status from Moody’s
Moody’s downgraded the country to ‘junk’ status on Friday.
The tariffs are delayed
According to the US Trade Representative Robert Lighthizer, the additional tariffs on Chinese imports, which include cell phone and laptop computers, will be delayed until December 15.
The Chinese yuan has strengthened on the news and pulled USD/CNH below the 50-period SMA on H4. After the breakout, the next key level will lie at 6.9680. From the upside, the 7.0743 level will be in focus.
The closest Chinese trade partner, Australia, sees the rise of its domestic currency, too. The Australian dollar has strengthened against the USD and tested the 0.6805-0.6817 levels on H4. If the aussie overcomes this range, the next key level at 0.6857 will be in focus. If the bearish pressure increases and AUD/USD falls below the 50-period SMA, the pair will be vulnerable to the further fall to 0.6749.
Similar
The US has joined the rest of the world in recession
The US economy has been hit hard by the coronavirus outbreak.
Forex market update on March 30
Another week starts in the Forex market. Where will it lead? Read the article to get the main outlines so far.
Latest news
South Africa got ‘junk’ status from Moody’s
Moody’s downgraded the country to ‘junk’ status on Friday.
The US has joined the rest of the world in recession
The US economy has been hit hard by the coronavirus outbreak.
USD: waiting for the reaction of the US purchasing managers
The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
Deposit with your local payment systems
