Nike dropped on Xinjiang cotton statements
Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
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.
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Time to sell Alibaba
Chinese stocks were pressed by the US plans to kick them off US stock exchanges. Alibaba has already plunged by 4% in pre-market hours.
McDonald's: burgers and spicy stocks
While the financial data of McDonald's disappointed, sales jumped.
Latest news
All eyes on US retail sales
US retail sales will be out on Thursday, April 15, at 15:30 MT. It is a significant release for traders as it will impact the US dollar.
JPMorgan's Q1'2021 earnings beat expectations!
As the earnings season kicks in, JPMorgan is the first to impress us with the better-than-expected data!
NZD will be driven by RBNZ
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.
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