EURUSD May Weaken Further as Trade War Fears Re-Emerge
Trade wars in focus again:
- Donald Trump said Tuesday that he was not pleased with the recent trade talks between the US and China.
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Trump stokes trade war fears
US President Donald Trump has brought trade war fears back into focus, saying that he was not pleased with the recent talks between the US and China, although he added that they “were a start”. That has tempered previous hopes that trade has faded into the background as a market factor and turned risk appetite sour.
In turn, that has boosted USD and the decline in EURUSD now seems set to continue, particularly as the Euro remains under pressure from the political situation in Italy. Separate comments by Trump that there was a “substantial chance” the US summit with North Korea will not take place as planned on June 12 has reinforced the risk-off sentiment in the markets too.
EURUSD Price Chart, Five-Minute Timeframe (May 23, 2018)
You can read more of our trade wars coverage here:
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--- Written by Martin Essex, Analyst and Editor
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.