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In the Zone
- EURUSD
- GBPUSD
- USDCAD
Market Insight Commentary – Forex
Today's News Headlines
- There is a lot of confusion in the US, with Donald Trump insisting that he is protecting US interests but it looks increasingly likely that there will be a trade war.
Market Insight Commentary – Indices
Market Recap
The US seems confused to me, the White House Administration on Thursday suggested that the US were happy to negotiate on trade with China, about an hour later though Donald Trump basically came out and said the exact opposite. The market had at first taken a constructive view but over the course of Friday started to sour a little bit.
As anticipated, the NFP data come out slightly softer than was expected and this enabled the major pairs to recoup some of the losses that they incurred over the week. The broad action still centred on a trade war which has a major effect on both the commodity currencies as well as the funding currencies like the EUR and JPY.
The USDCAD is still heavily affected by the NAFTA negotiations which looks increasingly friendly – there is also the increased likelihood of an interest rate hike shortly. It does look like it is losing a little bit of momentum here though and so I am patiently waiting for a long opportunity.
Important Economic Data Due Today
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