While forex traders remain focused on developments in the US-China trade war as well as the Yuan, they will receive a heavy dose of economic data out of the Eurozone. CPI readings out of Spain and Germany will be closely watched by the ECB, but Eurozone confidence data is expected to move the Euro. Economists anticipate a further slowdown of all sub-components with the key Business Climate Indicator seen sliding further into negative territory. Will the EURUSD be able to advance off of strong support levels despite the expected negative tone...
The economic calendar was quite calm during today's Asian session. Statistics were limited to the Australian second-quarter construction release.
How long will it take for the ECB to roll out more stimulus and what form will it take during the next round of quantitative easing? The Eurozone economy continues to struggle, led by its export engine Germany, and the ECB has noted that governments need to step in and help the central bank stimulate the economy. Germany has so far refused to change its constitution in order to allow more spending and claims there is no economic crisis which warrants this. Who will cave in first? The EURGBP has started to descend as Brexit is approaching and...
The yen rose on Tuesday as some investors tempered optimism about the prospect of an early end to the US-China trade war, and traders continued to avoid risky assets.
Conflicting messages by US President Donald Trump and out of China have sowed more confusion about the state of the US-China trade war. While so called technical phone calls between both negotiating teams are common practice, Trump has claimed that a high level request has been made in order to resume trade talks. This has increased the layer of uncertainty for forex traders, but boosted demand for gold which continues to extend its stellar advance. Global economic data continues to disappoint and so far this week has added to weaker-than-...
