{"id":154291,"date":"2019-08-27T09:37:35","date_gmt":"2019-08-27T13:37:35","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=154291"},"modified":"2019-08-27T09:21:16","modified_gmt":"2019-08-27T13:21:16","slug":"risk-assets-rally-on-trump-comments","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/08\/risk-assets-rally-on-trump-comments\/","title":{"rendered":"Risk Assets Rally On Trump Comments"},"content":{"rendered":"
August 27, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

Dollar Down on Risk Recovery<\/strong><\/h2>\n

USD has been under a little pressure over the European session so far on Tuesday.\u00a0<\/strong>This comes on the back of higher levels in equities after Trump\u2019s turn at the G7 meetings yesterday. Following rising tensions over the weekend, Trump praised Chinese premier Xi as a \u201cgreat leader\u201d and said that he was confident the two sides could deliver a \u201cgreat deal\u201d, saying that negotiations would start again very shortly. USD index trades 97.83 last.<\/p>\n

EUR Down On ECB Easing Expectations<\/strong><\/h2>\n

EURUSD has been a little weaker so far today, despite softness in USD. The market is widely expecting the ECB to announce a package of easing measures when it meets in September.<\/strong>\u00a0Worsening global growth, as well as a dovish shift across most of the G10 central bank space,\u00a0 is keeping expectations elevated. This is putting pressure on EUR. EURUSD trades 1.1103 today, having moved back below the 1.1112 level.<\/p>\n

Brexit Hopes Boost Pound<\/strong><\/h2>\n

GBPUSD has been back on a better footing today with price continuing to rally amidst quiet hopes that a\u00a0no-deal Brexit<\/a>\u00a0can be prevented.<\/strong>\u00a0Opposition MPs are working on measures to help avoid allowing Johnson to force through a no-deal. GBPUSD trades 1.2265 last as the recovery back towards the 1.2382 level continues.<\/p>\n

Risk Sentiment Bounces Back<\/strong><\/h2>\n

Risk assets have been a little muted so far today following a rally yesterday in response to Trump\u2019s comments.<\/strong>\u00a0After\u00a0China announced fresh 10% tariffs on $75 billion of US goods at the end of last week,<\/strong>and Trump\u2019s initial response of threatening to remove US companies from China,\u00a0the market was buoyed by a calmer tone from Trump yesterday<\/strong>. SPX500 trades 2880.73 last following a firm rally off the 2825.30 level.<\/p>\n

Safe Havens Soften<\/strong><\/h2>\n

Safe havens have had a weaker day today on the back of Trump\u2019s comments yesterday and subsequent recovery in risk appetite, leading both JPY and gold lower against USD.<\/strong>\u00a0XAUUSD trades 1530.72 last, with price holding above the 1530.57 level for now. USDJPY trades 105.81 last, with price having recovered back from yesterday\u2019s dip below the 2018 lows of 104.63 which saw price trading its lowest levels since 2016.<\/p>

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Crude Boosted By Better Risk Appetite<\/strong><\/h2>\n

Oil prices have stabilized further today as price continues to work back the declines of last week.\u00a0Positive sentiment around the prospect of a US-China trade deal is helping underpin prices here with crude trading 54.21 last<\/strong>. Later today we have our first look at inventory levels over the prior week with the release of the API report.<\/p>\n

Commodity Currencies Recover<\/strong><\/h2>\n

USDCAD has collapsed further today in light of the recovery in risk appetite and stronger oil prices.<\/strong>\u00a0The rejection from the 1.33 level has seen price trading all the way back to 1.3236 last, sitting just above the next big support level down at the 1.3207 level.<\/p>\n

AUDUSD continues to remain tightly wound within the block of consolidation which has formed around the .6758 level.\u00a0Price managed to recover sharply yesterday following an earlier downside move and any further\u00a0optimism around US-China trade talks<\/a>\u00a0could help lift AUD more.<\/strong><\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex Dollar Down on Risk Recovery USD has been under a little pressure over the European session so far on Tuesday.\u00a0This comes on the back of higher levels in equities after Trump\u2019s turn at the G7 meetings yesterday. Following rising tensions over the weekend, Trump praised Chinese premier Xi as a \u201cgreat leader\u201d and […]<\/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-154291","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154291","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=154291"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154291\/revisions"}],"predecessor-version":[{"id":154300,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154291\/revisions\/154300"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=154291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=154291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=154291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}