Positive trade-related headlines prompted some aggressive short-covering move on Monday. The USD maintains its strong bid tone post-mixed US durable goods and remained supportive. The USD/JPY pair maintained its strong bid tone, albeit remained below the 106.00 handle post-US durable goods orders data. The incoming positive trade-related headlines led to a sudden turnaround in the global risk sentiment. The same was evident from a goodish up-move in equity markets, which weighed on the Japanese Yen’s safe-haven status and prompted some aggressive short-covering move. Speaking at the G7 summit in France this Monday, the US President Donald Trump said that he had received two phone calls from Chinese officials over the weekend, urging to reopen trade talks. This comes on the back of earlier comments by China’s Vice Premier Liu He that he wanted to solve the trade differences as calmly as possible. Upbeat US data adds to positive trade headlines The intraday uptick was further supported by a goodish pickup in the US Dollar demand and remained supported the latest US macro data, showing that durable goods orders increased 2.1% in July as compared to 1.9% rise recorded in the previous month and 1.1% expected. The upbeat headlines reading, to a larger extent, was negated by weaker core durable goods orders, coming in to show a fall of 0.4% as against a modest 0.1% growth expected and down sharply from the previous month’s downwardly revised reading of 1.0% (1.2% reported previously). It would now be interesting to see if the pair is able to capitalize on the positive momentum or once again meets with some fresh supply at higher levels as market participants keep a close watch on the incoming trade-related headlines, which might continue to act as a key factor driving the broader market risk sentiment and influence the pair’s momentum. Technical levels to watch 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 Ireland’s Coveney: Any Brexit deal needs to be done on basis of Withdrawal Agreement FX Street 4 years Positive trade-related headlines prompted some aggressive short-covering move on Monday. The USD maintains its strong bid tone post-mixed US durable goods and remained supportive. The USD/JPY pair maintained its strong bid tone, albeit remained below the 106.00 handle post-US durable goods orders data. The incoming positive trade-related headlines led to a sudden turnaround in the global risk sentiment. The same was evident from a goodish up-move in equity markets, which weighed on the Japanese Yen's safe-haven status and prompted some aggressive short-covering move. Speaking at the G7 summit in France this Monday, the US President Donald Trump said that… 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.