The Escalation of Trade Conflict Continues

The US dollar weakened against the basket of major currencies due to the escalation of trade conflict between the US and China. Yesterday, Donald Trump announced the introduction of a new 10% duties on import of Chinese goods $200 billion worth, which will come into effect on September 24. The US president also said that tariffs could grow to 25% if China did not make concessions. The dollar index (#DX) closed in the negative zone (-0.45%).

The British pound strengthened against the US currency amid positive news about Brexit. The first of three rounds of talks, at which the leaders of the European countries intend to conclude an agreement with the UK on favorable terms for the country's exit from the EU, will be held this week.

The "black gold" prices are declining due to the introduction of new duties against China. At the moment, futures for the WTI crude oil are testing a mark of $68.50 per barrel. Investors expect statistics on the API weekly crude oil stock in the US at 23:30 (GMT+3:00).

Market Indicators

Yesterday, the bearish sentiment was observed in the US stock market: #SPY (-0.53%), #DIA (-0.35%), #QQQ (-1.44%).

The 10-year US government bonds yield shows positive dynamics. At the moment, the indicator is at the level of 3.00-3.01%.

The news feed on 18.09.2018:

Today, the publication of important economic reports from the US and the Eurozone is not expected. We recommend paying attention to the speech by the ECB president Mario Draghi.

by JustForex, 2018.09.18

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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