[ad_1]
Forex News for Asian Trading Monday, May 13, 2019
After the breakdown of trade negotiations between the United States and China late last week, US President Trump has again posted on Twitter this weekend not to back down. Saturday night (US time), he tweeted the conditions offered to China would be "much worse" during his second term. He confirmed this with a tweet of Sunday night in which he said that China was exactly where he wanted.
Very early moves here in Asia reflected Saturday's tweets, with the yen strengthening and risk currencies (AUD, for example) trending lower. The tweets that followed came when there was a little more liquidity in the markets and the movements went on. To keep this in perspective, however, apart from the yuan, forex ranges were not large. USD / CNH reached its highest level since January this year.
The shares were more successful, Globex trading (ES eminis) fell by more than 1% at the opening of the market for the new week. Regional actions have also fallen.
The USD / JPY pair opened lower Friday after its level of about 110.95 and fell to 110.60 before returning to around 109.80. It's just below that I post. The AUD / USD has also opened down. He managed a move back to around 0.7 before falling back to lows around 0.6975. It's just out of the canvas that I post. The NZD / USD has traded a similar model.
The EUR / USD pair changed little as the cable recovered from its initial low above 1.3010. USD / CAD is also up.
Gold seemed promising in the early trades, reaching more than 1288 USD but has since fallen below 1284.
In addition to the developments of the trade war, we had some Brexit extracts and data that had only a minor impact.
[ad_2]
Source link