The FX market is off to a soft start this week as traders await in silence new updates regarding the US-China trade war.
Reserve Bank of New Zealand – The New Zealand Dollar rate soared.
Dollar index – The index stood neutral at $98.26 against a basket of six major currencies.
us china tariffs – The dollar took a neutral stance as traders awaited further updates on the US-China tariffs rollback.
Currency of U.K. – The currency of the U.K. declined versus the dollar.
Asian Market – Japan’s recent coordination with South Korea stirred the Asian market, pushing the US dollar’s safe-haven currency upwards.
Parliament – South Korea proposed a bill for Japan on Wednesday to make amends thru wartime victim compensation.
Pact – India walked out of the Regional Comprehensive Economic Partnership. Meanwhile, Australia plans to sign into the pact instead.
ECB – Christine Lagarde made her first speech as the European Central Bank President to call for strength, resolve, and courage.
The Greenback – Financial analysts claim major currencies like USD, CAD, AUD, and NZD are likely to weaken.
United States – Greenback was under pressure against the yen.
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Halloween – The Federal Reserve cut its target funds rate. Halloween did arrive one day earlier.
Halloween – Halloween brings economic recession, and the protests will make sure there’s no end in sight.