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.

Free Trading Guides
EUR/USD
Bullish
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
GBP/USD
Bullish
USD/JPY
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
Gold
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
Oil - US Crude
Bullish
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
Bitcoin
Bullish
More View more
Real Time News
  • The $AUD stands to swing in response to changes in #RBA rate cut expectations as forex market participants react to the Australian jobs report. Get your $AUDUSD market update from @RichDvorakFX here: https://t.co/7XgF8yly13 https://t.co/cFWeM4edpM
  • #GBP, #BRL and the #ZAR are expected to be the most active Major Currencies vs #USD with 1-week implied volatilities at 18.77, 13.48 and 12.49 respectively.
  • The Euro has breached resistance guiding it lower for nearly four months, setting the stage for gains. Any near-term rise is unlikely to derail the long-term downtrend, however. Get your Euro market update here: https://t.co/gl9VRc3XEp https://t.co/ImSc0aFHvQ
  • The MSCI #EmergingMarkets Index is at the make or break point, sitting right under key descending resistance from April. A confirmatory daily close higher may pave the way for a retest of June highs https://t.co/wgfNIOdxU9
  • RT @carlquintanilla: JPMORGAN: “We have been on the lookout for signs that the shocks hitting the industrial sector have broadened out .. a…
  • 💵 The US Dollar sank further on disappointing retail sales data which helped drive the $DXY Index below 98. $USD price action now turns to initial jobless claims data and Fed official commentary on deck for Thursday's trading session. Read More⬇️ https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2019/10/16/us-dollar-price-volatility-report-dxy-index-breaches-98.00.html
  • Precious Metals Update: #Gold 1489.77 (-0.03%), #Aluminum 1728.00 (+0.47%), and #Copper 5773.00 (-0.77%). [delayed]
  • Heads Up:🇬🇧 GBP BOE's Carney Speaks at Event at Harvard Kennedy School due at 22:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2019-10-16
  • Netflix beat earnings and soared to the top of its implied price range, but the outlook for the stock is concerning as subscriber growth slows.. Can $NFLX hold onto today's gains? https://www.dailyfx.com/forex/market_alert/2019/10/16/Netflix-Shares-Soar-After-Earnings-But-Will-the-Gains-Last.html?CHID=9&QPID=917701
  • The IMF in its GFSR financial report noted risks of over indulgent investors in loose monetary policy markets and stated US and Japanese stock markets "appear to be overvalued". The weekly chart of $SPX to VEU (rest of world) https://t.co/CZ17MnjRJ9
Trade Wars Latest: Concerns About NAFTA, China Dominate USD

Trade Wars Latest: Concerns About NAFTA, China Dominate USD

2018-08-29 10:00:00
Martin Essex, MSTA, Analyst and Editor
Share:

USD price, news and analysis:

  • The trade dispute between the US and China is weakening confidence in the US Dollar.
  • Detail of the NAFTA deal between the US and Mexico are scant, and trade relations between the US and Canada are poor.

Our trading forecasts for Q3 have been published; you can find the USD and EUR guides here.

And check out the IG Client Sentiment data to help you trade profitably.

Trade tensions may weaken USD sentiment

Concerns about the trade wars between the US on one side and Mexico, Canada and China on the other have eased a little but will likely remerge soon to keep the USD on a downward track.

There are three principal concerns:

  • Details have not yet emerged about the trade deal between the US and Mexico. Anyway, it could be stalled by Congress and an actual agreement could still be months away,
  • Canada has rejoined the three-nation North American Free Trade Agreement (NAFTA) talks but little progress has been made so far, and
  • A deadline for the next round of US-China tariff talks next week is fast approaching.

For now, EURUSD is off its highs, with USD helped by optimism following the news of the US-Mexico deal. However, reemerging doubts could well bolster the pair and send it higher still.

EURUSD Price Chart, Daily Timeframe (May 22 – August 29, 2018)

Latest EURUSD price chart.

Chart by IG

News that the US trade deficit in goods widened to $72.2 billion in July will likely strengthen the determination of US President Donald Trump to take a hard line in the negotiations with its trading partners – and that will likely ensure that the EURUSD uptrend resumes soon.

More to read:

Resources to help you trade the forex markets

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you: analytical and educational webinars hosted several times per day, trading guides to help you improve your trading performance, and one specifically for those who are new to forex. You can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

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

DISCLOSURES

News & Analysis at your fingertips.