Market News and Charts for October 15, 2018
Hey traders! Below are the latest forex chart updates for Monday’s sessions. Learn from the provided analysis and apply the recommended positions to your next move. Good day and Good Luck!
As Germany and France take the leading position of multilateralism, the value of the Euro appreciated compared to Switzerland’s Swiss Franc, a non-European Union member. But as the current turmoil was looming in the EU caused by Italy’s 2.4% Debt-to-GDP ratio, expect the price of Euro to fall down in the short term caused by uncertainty over the future o the EU.
The Euro and Yen are competing as the safe haven asset as uncertainty over the United States future were being weighted. The trade war between the United States and China had affected the Emerging Markets and the companies directly hit by tariffs. Aside from that, the Federal Reserves, which was the United States Central Bank shifted its focus from unemployment to inflation and growth. Expect the pair to go up as EU was taking the lead towards multilateralism.
The Swiss Franc was not a member of the European Union Single Currency Market while the United Kingdom was on its way towards leaving the European Union on March 29, 2019. The Pounds was hit due to a deal that has not been reached between the European Union and the United Kingdom. A new proposal by Theresa May said to officially close the deal between the EU and the UK which will help the pounds to recover and increase in the short term until the market will fully weight the implication of the deal.
The Canadian Dollar will continue to weaken as uncertainty over the election on October 21, 2018, was looming. Aside from the Japanese Yen was competing against the European Union’s Euro to be the safe haven asset as the trade war between the United States and China has caused the slow in the growth of the Emerging Market and the Global Economy as a whole.
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