The start of the US trading session has been positive for traders of Tesla and Microsoft.
The US-China trade war escalates
Good Friday, traders! Let's start with the updates from the US-China trade war's front. Yesterday, US President Donald Trump announced an additional 10% tariff on the remaining 300 billion dollars of goods and products since September 1. China, in its turn, said about countermeasures needed as a response to this unexpected move. As a result, the risk-weighted assets dropped significantly.
- The Australian dollar and the New Zealand dollar have seen huge moves to the downside. AUD/USD is currently trading at the lowest levels since January's flash crash.
- Safe-haven Japanese yen has strengthened. USD/JPY has been targeting support from June 25 at 106.76.
- USD/CNH has risen to the highest levels since last November. The pair is currently trading at 6.9718.
- Gold retested its recent highs at $1,448.
- As for exotic currency pairs, USD/MXN and the USD/ZAR jumped higher, while USD/BRL gapped up above the 50-day SMA since the start of today's trading session.
During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
Yesterday, the US Justice Department announced a broad antitrust review ...
The main attention of traders is paid to the news concerning the US-China developments ahead of the US tariffs deadline scheduled on December 15.
The UK Parliament election, American and European interest rates announcements and monetary policy press conferences - all of these are going to take place this week.
The Federal Funds Rate is announced at 21:00 MT time on December 11.