US FX Handover China Has No Trust in Mild Signals from US on Trade
See a summary of the top FX themes and trends from today's US session!
Share this:
- Economic Advisor Kudlow stated that “we’d like to go back to where we were a month ago” on US-China trade talks, though Chinese state media said that China has “no trust in the mild signals” that the US has sent so far.
- US PPI came in at +0.1% m/m (+1.8% y/y), a tick below expectations. Tomorrow’s US CPI report will be a key release in setting expectations for whether the Fed may cut interest rates either next week or at its July meeting.
- The pound was the strongest major currency today; the New Zealand dollar was the weakest.
- Economic Advisor Kudlow stated that “we’d like to go back to where we were a month ago” on US-China trade talks, though Chinese state media said that China has “no trust in the mild signals” that the US has sent so far.
- US PPI came in at +0.1% m/m (+1.8% y/y), a tick below expectations. Tomorrow’s US CPI report will be a key release in setting expectations for whether the Fed may cut interest rates either next week or at its July meeting.
- The pound was the strongest major currency today; the New Zealand dollar was the weakest.
Related tags:
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
USD/JPY weekly outlook: Quarter turn scrambles rates regime
USD/JPY’s tight relationship with front-end US rates broke down sharply last week, but quarter-turn flows and positioning suggest the disconnect may prove temporary.
USD/CAD forecast: rally could accelerate above June highs at 1.4250
USD/CAD recovered quickly after weaker US jobs data, keeping the bullish trend in focus. A move above the June highs could accelerate the rally as inflation keeps the Fed under pressure.
USD Sets Fresh Yearly High as EUR/USD Drops Dramatically, USD/JPY Stable
Well, it was a week of USD strength that wasn’t entirely pushed by USD/JPY, as a strong sell-off in EUR/USD has pushed the major pair to its most oversold state in a decade.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.