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Day: September 18, 2018
September 182018
No Demand for Safe Haven, Yen Retreats Ahead of BoJ Meeting
The Japanese yen was weak today ahead of tomorrow’s policy meeting as markets largely ignored escalating trade tensions between the United States and China, lowering demand for the currency as a safe haven. The USA confirmed that it is going to slap new tariffs on Chinese goods equal to $200 billion of worth. As was expected, China announced a retaliatory tariffs on US goods. While risk aversion surged after the announcement, markets quickly […]
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September 182018
Aussie Bounces After Initial Decline Caused by RBA Minutes & Economic Data
The Australian dollar dipped initially today following the release of central bank’s monetary policy minutes and poor macroeconomic data. Yet the currency has bounced by now after markets had calmed, largely ignoring US tariffs on Chinese goods. The Reserve Bank of Australia released minutes of its September policy meeting today. The notes did not provide any significant new insights. They reiterated that an interest rate hike is […]
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September 182018
Chinese Yuan Weakens on Latest US Tariffs, Markets Unfazed
The Chinese yuan weakened on Tuesday after the US government announced new tariffs on tens of billions of dollars worth of Chinese goods. As expected, Beijing retaliated a day later, confirming its own import levies on American products. This is the latest development in the intensifying US-China trade war, causing mixed results: analysts are worried but markets have yet to be rattled. The White House confirmed on Monday that the US government […]
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September 182018
EUR/USD Backs Off After US-China Trade Tensions Escalate
EUR/USD attempted to rally today but failed as trade tensions between the United State and China escalated. Macroeconomic data had little impact on the currency pair as there were very few reports released at the start of the week. Net foreign purchases were at $74.8 billion in July. That is compared to $65.1 billion predicted by specialists and -$36.5 billion registered in June. (Event A on the chart.) Yesterday, a report on NY Empire State Index was […]
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