News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/eaA8ZI6DVu
  • Chinese property development company Sinic Holdings (2103) - Down 87%...@DailyFXTeam #contagion #Evergrande https://t.co/h5mfwqGASZ
  • 🇪🇸 Balance of Trade (JUL) Actual: €-1.60B Previous: €-0.98B https://www.dailyfx.com/economic-calendar#2021-09-20
  • Heads Up:🇪🇸 Balance of Trade (JUL) due at 08:00 GMT (15min) Previous: €-0.98B https://www.dailyfx.com/economic-calendar#2021-09-20
  • Fitch on China Property Developers - View will turn negative if sales in H2 21 fall below that achieved in H2 19 and/or if sharp fall follows through to H1 22 - Government policies in sector remain tight and show no sign of imminent loosening
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here: https://t.co/Blrl0uF2Ct https://t.co/B0Y3XJhkRS
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/1xhewkdV21
  • (USD Weekly Tech) US Dollar Dominant Uptrend Back In Focus: EUR/USD, USD/JPY, NZD/USD, USD/CHF https://www.dailyfx.com/forex/technical/article/special_report/2021/09/20/US-Dollar-Dominant-Uptrend-Back-In-Focus-EURUSD-USDJPY-NZDUSD-USDCHF.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/IpwzBGCi7P
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/qv8keXFzHZ
  • Join @IlyaSpivak at 22:00 EST/2:00 GMT for his cross-market weekly outlook webinar. Register here: https://t.co/MKGHc9ae64 https://t.co/JMlT0Wn3DK
Yen Down, Aussie Dollar Up on Diluted US Tariffs Against China

Yen Down, Aussie Dollar Up on Diluted US Tariffs Against China

Ilya Spivak, Head Strategist, APAC

TALKING POINTS – TRADE WAR, TRUMP, CHINA, YEN, AUSSIE DOLLAR, EURO, DRAGHI

  • Yen down, Aussie Dollar up as the US triggers diluted tariffs against China
  • Markets cheer signs of effective pushback against White House protectionism
  • Euro looking to speech from ECB President Mario Draghi for direction cues

Asia Pacific markets mostly shrugged off trade war escalation after US President Donald Trump pushed ahead with another round of tariffs, targeting a further $200 billion in imports from China. The CSI 300 index of Shanghai- and Shenzhen-listed shares and S&P 500 futures rebounded after prior losses.

In the FX space, ebbing haven demand weighed on the US Dollar. The perennially anti-risk Japanese Yen likewise fell. Meanwhile, the sentiment-geared Australian and New Zealand Dollars scored outsized gains against the spectrum of their G10 counterparts.

NEW CHINA TARIFFS A SETBACK FOR TRUMP TRADE AGENDA

Investors’ seemingly counter-intuitive response may reflect the way in which this new round of tariffs is to be implemented. Initially set at 10 percent, they will go up to 25 percent as the calendar turns to 2019. That represents something of a retreat for Mr Trump, who wanted the higher rate implemented right away.

That plan was roundly opposed by US farmers, business interests, and high-ranking members of the president’s own Republican Party. The somewhat watered down approach that leaves room to avoid higher duties if a deal is struck before year-end signals growing push-back to the protectionist agenda.

What’s more, the administration was corralled into taking almost 300 product categories off its original target list, including several marquee Apple Inc products. This too seems to reflect a successful effort by pro-trade advocates to rein in the White House.

EURO LOOKS TO DRAGHI SPEECH FOR DIRECTION

From here, the spotlight turns to a speech from ECB President Mario Draghi. He is due to give the keynote address at an event organized by the ACPR, the regulatory arm of the Bank of France that oversees lenders and insurance companies.

While the central bank chief is unlikely to offer meaningful monetary policy guidance so soon after last week’s rate decision, he may touch on the vulnerability of Eurozone banks to recent emerging market jitters. A sufficiently worried tone might weigh on the Euro.

See our study on the history of trade wars to learn how it might influence financial markets!

ASIA PACIFIC TRADING SESSION

Asia Pacific Trading Session Economic Calendar

EUROPEAN TRADING SESSION

European Trading Session Economic Calendar

** All times listed in GMT. See the full economic calendar here.

FX TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES