Dollar rally ends with Trump monetary policy and currency war comments

The U.S. dollar fell against major pairs on Friday after U.S. President Donald Trump tweeted that China and the European Union manipulate their currencies. Trade war escalation has reached the second phase at a time when American politics are having an identity crisis with the ongoing Russian interference during the 2016 elections. Steven Mnuchin will head to Buenos Aires to take part in the finance ministers G20 meeting with trade and monetary policies sure to be a topic of discussion.

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From:: Resource Investor

Dollar weaker after Trump interest rate comments

It’s looking like being a quiet end to the trading week, with the only notable economic releases coming from Canada and it being one of the less eventful days of earnings season. The Canadian inflation figures will be one interesting takeaway today, after a year in which the central bank has been actively raising interest rates, most recently this month taking the number of hikes to four.

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From:: Resource Investor

EUR/AUD poised to breakout

Notwithstanding President Trump’s daily twitter condemnations (trade partners and the Federal Reserve drew his ire this morning), traders have started to look ahead to next week’s trade. The marquee economic events impacting next week’s FX market will likely be Australia’s Q2 CPI reading in Wednesday’s Asian session and Thursday’s ECB meeting.

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From:: Resource Investor

Daily markets morning round-up: E-mini S&P, gold, crude & Treasuries

Volatility picked up last night after the People’s Bank of China cut a key interest rate and sent the Yuan to the weakest level against the Dollar since June 27, 2017. Equity markets and commodities took a swift hit but battled back in the overnight hours. The S&P traded right into key support at 2789.75-2792 with a low of 2793.50 before recovering to 2806; what a beautifully technical move, we will discuss more in that section below.

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From:: Resource Investor

CAD/JPY could stage breakout on hawkish BoC

Earlier I wrote on the U.S. dollar/Japanese yen (USD/JPY) currency pair, highlighting a potential breakout in that pair above a long-term bearish trend line. In fact, weakness in the yen is a dominant theme as the ongoing stock market rally continues to undermine the appeal of the safe haven currency. One interesting yen pair to watch this week could actually be the Canadian dollar/Japanese yen (CAD/JPY), due to the Bank of Canada’s rate decision tomorrow.

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From:: Resource Investor