Market News and Charts for October 17, 2018
Hey traders! Below are the latest forex chart updates for Wednesday’s sessions. Learn from the provided analysis and apply the recommended positions to your next move. Good day and Good Luck!
The Australian Dollar was on the rise following the Business Confidence report showing that Australian people are slowly turning back to their government after the turmoil caused by political unstability that oust the former Prime Minister Malcolm Turnbul. Expect a long-term down trend for the pair as Japan keep its Ultra-Easy Monetary Policy that will support its continued expansion.
Expect for a surging Swiss Franc as it became the safe haven for investors across the Europe. Switzerland was not affected by the ongoing dispute between Germany, France, the European Union, and Italy, including the Brexit, making its currency to stand out for investors looking for a stable asset.
Despite the turmoil in the European Union, it is so far more stable compared to the trade war happening between the United States and China which affects the Emerging Markets particularly in South East Asia. China is the biggest trading partner of Nez Zealand, which makes it vulnerable for any tariffs being impose to China.
As Trump wage tariff war to China, Mexico, Turkey, and Iran, the next thing that he might go into was in the European Union. Aside from his trade war, he also expresses dismay for the NATO (North Antantic Treaty Organization) members, mostly countries from the European Union, for not paying enough money for its defense. Aside from that, European Union was in a turmoil following its dispute with a member, Italy. Expect the Euro to further fall against the Canadian Dollar.
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