Forex today remains largely in favor of risk aversion as the return of Japanese traders reacted over the Chinese requirement to have further talks before signing a trade deal with the US. Adding to the risk-off mood could be the Japanese Prime Minister Shinzo Abe’s statement that the recent typhoon in Eastern Japan will have prolonged economic impact. On the contrary, markets ignore better than forecast China CPI while also showing less reaction to the RBA minutes, not to mention Brexit positive headlines from the Daily Telegraph and the BBC. Additionally, investors largely ignored the surprise release of the US New York (NY) Empire State Manufacturing Index. The US Dollar (USD) losses appeal against the traditional safe-havens like the Japanese Yen (JPY), Swiss Franc (CHF) and Gold. The same could also be attributed to the pullbacks of EUR/USD, GBP/USD and the NZD/USD pair. However, AUD/USD has to bear the burden of dovish RBA minutes and the pair’s nature of risk barometer. Further, Crude Oil also suffers from trade pessimism despite US-Turkey tension. Main Topics in Asia Japan govt says it will consider extra budget for typhoon relief – Reuters EU mulls new emergency summit to ‘get Brexit deal done’ – BBC BOJ: Will keep rates at very low levels at least through spring 2020 The RBA minutes: Board prepared to ease policy further if needed to support growth, jobs US Defence Secretary Esper: Will be meeting with NATO allies next week”¦ Brexit: A Brexit deal appears to be taking shape – Telegraph Key Focus Ahead While trade/Brexit headlines will keep being the key drivers, the United Kingdom’s (UK) employment data and German ZEW Survey could entertain momentum traders. It should also be noted that comments from second-tier policymakers of the Bank of England (BOE) and the United States’ (US) Federal Reserve System (Fed) will join Swiss Producer and Import Prices to add the burden of the US and Canadian traders when they are back from Monday’s off. EUR/USD registers an inside day ahead of German Zew survey EUR/USD created an inside day or inside bar candlestick pattern on Monday, indicating investor indecision and impending volatility. A bullish close could be seen if the German Zew Survey blows past expectations. GBP/USD: Options market turns bullish on Sterling for first since January 2018 The options market has turned bullish on Sterling for the first time in nearly two years. Investors are likely anticipating a Brexit breakthrough and adding bets to position for a rally in Sterling. USD/JPY unchanged on 108 handle in Tokyo opening hour, eyes on key events USD/JPY was steady in Tokyo’s opening hour, weighing trade risks and upcoming events. Looking ahead, eyes are on US Industrial Production and Fed speakers. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Turkey: Syria campaign bites on Turkish assets – TD Securities FX Street 4 years Forex today remains largely in favor of risk aversion as the return of Japanese traders reacted over the Chinese requirement to have further talks before signing a trade deal with the US. Adding to the risk-off mood could be the Japanese Prime Minister Shinzo Abe's statement that the recent typhoon in Eastern Japan will have prolonged economic impact. On the contrary, markets ignore better than forecast China CPI while also showing less reaction to the RBA minutes, not to mention Brexit positive headlines from the Daily Telegraph and the BBC. Additionally, investors largely ignored the surprise release of the US… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
