What to Trade on August 22–26?
How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3 Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…
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.
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