A deteriorating global trade picture is of course unambiguously negative EM FX and could have been expected to produce a more mixed picture vs G10 (i.e. USD strength vs the dollar bloc, weakness vs the more defensive EUR, CHF & JPY), but that has not been the case as the USD is enjoying generic strength without exception, according to Richard Franulovich, Research Analyst at Westpac. Key Quotes “We should not expect trade tensions to defuse soon. Meaningful concession from China seem unlikely, European leaders have signaled they will respond in kind to potential auto tariffs, while Nov mid-terms argue against a more conciliatory approach on the US side (certainly objections from US corporates and congress have done little to turn the tide).” “US data outperformance persists too (US NFIB small business sentiment was solid and job openings remain elevated, while the German ZEW took another leg lower), cementing US growth leadership and showcasing a more robust US story amid growing trade tensions. The broad contours favour sustained USD support.” 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 US: CPI to edge higher to 2.9% y/y in June – TDS FX Street 5 years A deteriorating global trade picture is of course unambiguously negative EM FX and could have been expected to produce a more mixed picture vs G10 (i.e. USD strength vs the dollar bloc, weakness vs the more defensive EUR, CHF & JPY), but that has not been the case as the USD is enjoying generic strength without exception, according to Richard Franulovich, Research Analyst at Westpac. Key Quotes "We should not expect trade tensions to defuse soon. Meaningful concession from China seem unlikely, European leaders have signaled they will respond in kind to potential auto tariffs, while Nov mid-terms argue against… 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.
