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A risk-off theme dominated after President Trump repeated yesterday evening at a rally that China "broke the deal" and would pay for it, which saw safe-haven demand drive the Yen to fresh highs against the Dollar and many other currencies. China's bellwether CSI 300 equity index finished 1.9% for the worse, extending the weekly decline to 8%. Read more
The Yen continued to rally as risk aversion coursed through global markets. President Trump repeated that China "broke the deal" and would pay for it, with the U.S. set to raise tariffs to 25% from 10% on $200 billion worth of Chinese imports at 12:01 A.M. Read more
The Dollar firmed up slightly in N.Y. trade on Wednesday, though trade was quiet overall. The DXY edged up to 97.68 highs from lows of 97.46. Reports that China is ready to make a trade deal with the U.S.as negotiations continue in Washington on Thursday and Friday, helped Wall Street bounce some, though uncertainty over an agreement kept safe-haven flows into the Dollar in place. Read more
OVERVIEW President Trump asserts China is ready to make a deal China warns the US not to increase tariffs on Chinese goods Oil prices inch up on production decrease of 41,000 fewer barrels per day, down from 16 million per day HIGHLIGHT The pound gave up a large percentage of last week’s gains yesterday as the lack of Brexit progress came back into the limelight. Read more
The Dollar has remained on a softer tack, reflected by the narrow trade-weighted USD index posting a one-week low at 97.39. The index is now down about 1% from the two-year high seen on April 26. The follows Wall Street's worst day in two months as markets continued to digest looming tariff hikes on imported Chinese goods to the U.S. Read more
The Dollar has traded softer, reflected by the narrow trade-weighted USD index posting a one-week low at 97.39. The index is now down about 1% from the two-year high seen on April 26. The follows Wall Street's worst day in two months, with the S&P 500 closing 1.7% for the worse, as markets continued to digest looming tariff hikes on imported Chinese goods to the U.S. Read more
The Dollar moved higher in N.Y. trade on Tuesday, taking the DXY to 97.74 highs from opening lows near 97.55. Safe-haven flows into the USD were behind the modest gains, as U.S./China trade concerns remained front and center, as Wall Street tumbled, and Treasury yields headed lower. Read more
OVERVIEW The greenback remains subdued as the market waits for US-China trade talks to progress GBP/USD trades with a slightly negative tone ahead of new Brexit developments Read more
The Dollar picked up demand after seeing fresh lows against a number of currencies. The narrow trade-weighted USD index was near net unchanged, at 97.53, heading into the New York interbank open having earlier printed a six-day low at 97.39. EUR-USD concurrently sank back under 1.1200 after earlier pegging a three-session high at 1.1218. Read more
The Australian Dollar rallied strongly after the RBA refrained from cutting interest rates, instead leaving the cash rate at 1.50% following its policy review today. There had been speculation for the central bank to cut by 25 bp following unexpectedly soft Q1 CPI data, though the proximity of the May-18 federal election looks to have stayed the central bank's hand. Read more
