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President Trump formally announces beginning of process to terminate Hong Kong's special treatment status. Announces US will terminate relationship with the World Health Organization.

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  • "US Dollar, Nasdaq, Chinese Yuan React to Trump-China Presser" -via @DailyFX President Trump formally announces the United States will revoke Hong Kong’s preferential treatment amid escalating China tension. Where might $USD, $NDX, $CNH head next? Link: https://www.dailyfx.com/forex/market_alert/2020/05/29/usd-cnh-ndx-price-us-dollar-chinese-yuan-nasdaq-china-tension-trump-press-conference.html
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  • Even the Hong Kong Dollar is up after that press conference...
  • Eminis treating that press conference like 'that was it?' Market seemed to have fully accounted for the HK special status situation
  • Trump: - Hong Kong is no longer sufficiently autonomous - Beginning the process to eliminate special treatments given to Hong Kong $SPX
  • Trump: - Taking action to protect the U.S. financial system and directing working group to study the differing practices of Chinese companies listed on U.S. exchanges $DXY $NDX
  • President Trump is listing out his accusations for China. Normally, would consider this lead up to sanctions, but he doesn't always follow that playbook
  • President Trump says investment firms should not be subjecting their clients to investing in Chinese companies that do not play by the same rules $FXI
US Dollar Index-Watch 100.40/50 around FOMC

US Dollar Index-Watch 100.40/50 around FOMC

2016-12-13 18:50:00
Jamie Saettele, CMT, Sr. Technical Strategist
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US Dollar Index-Watch 100.40/50 around FOMC

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent DXY comments have focused on the channel that originates from the May low, specifically former channel resistance. Former channel resistance has provided support this week (except for a few seconds below on the ECB spike). The action is bullish and only weakness below the line (near 99.85) would indicate a behavior change and risk of a reversal.

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