{"id":153514,"date":"2019-08-14T08:40:19","date_gmt":"2019-08-14T12:40:19","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=153514"},"modified":"2019-08-14T08:40:19","modified_gmt":"2019-08-14T12:40:19","slug":"risk-appetite-jumps-as-us-eases-trade-war","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/08\/risk-appetite-jumps-as-us-eases-trade-war\/","title":{"rendered":"Risk Appetite Jumps As US Eases Trade War"},"content":{"rendered":"
August 14, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

Equity markets got a boost on Tuesday after news emerged that the Trump administration was delaying the tariffs on some Chinese products until December this year.<\/p>\n

The Washington administration also cut down on the items that were to face new tariffs from next month. National security, health and safety concerns were cited as the reason behind the move. The news helped to push the US dollar higher on the day.<\/p>\n

Euro Slips on USD Strength<\/strong><\/h2>\n

The euro eased back as the greenback rose on the day. But overall the common currency remains trading flat. Economic data from the eurozone confirmed that Germany\u2019s final inflation figures rose 0.5% on the month. This was inline with the\u00a0preliminary\/flash CPI estimates.<\/a><\/p>\n

EURUSD Continues to Maintain the Sideways Range<\/strong><\/h3>\n

EURUSD has been trading within the established corridor of 1.1250 and 1.1185. The tight range has led to a consolidation, which could see a breakout in the short term. The bias remains mixed at the moment. To the downside, the lower support at 1.1140 remains the key price level, while to the upside, EURUSD will need to break past 1.1250 in order to confirm the upside to 1.1340.<\/p>\n

\"eurusd\"<\/a><\/p>\n

Sterling Muted to Weak Jobs Report<\/strong><\/h2>\n

The pound sterling traded flat on a day that included the monthly jobs report data. Official data from the UK\u2019s Office of National Statistics showed that the average earnings rose 3.7%, matching forecasts. This was up from a revised 3.5% previously. The UK\u2019s unemployment rate rose to 3.9%, from 3.8%.<\/p>

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GBPUSD Continues to Trade Near Bottom<\/strong><\/h3>\n

The currency pair initially managed to rise to the key price level of 1.2082. However, multiple attempts to break this level failed. As a result, the sterling was seen trading subdued below the 1.2082 handle. We could see price potentially retesting the previous lows at 1.2026. As long as this low isn\u2019t breached, there could be an upside bias building up.<\/p>\n

\"gbpusd\"<\/a><\/p>\n

Gold Slips as Risk Appetite Improves<\/strong><\/h2>\n

The precious metal, which attempted to rise to fresh highs earlier this week pulled back. Gold prices were trading weaker, and off the $1500 psychological level. Besides\u00a0the trade war narrative<\/a>, US inflation data showed a 0.3% increase in both the headline and the core CPI.<\/p>\n

Will Gold Extend Declines?<\/strong><\/h3>\n

The precious metal could extend the declines if it fails to hold the 1494 handle. With minor support established here and price already breaking past this level, gold could start to post a correction to the downside. The lower support at 1447.20 will be the likely target in case the correction gains momentum.\"xauusd\"<\/a><\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex Equity markets got a boost on Tuesday after news emerged that the Trump administration was delaying the tariffs on some Chinese products until December this year. The Washington administration also cut down on the items that were to face new tariffs from next month. National security, health and safety concerns were cited as […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-153514","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=153514"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153514\/revisions"}],"predecessor-version":[{"id":153523,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153514\/revisions\/153523"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=153514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=153514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=153514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}