EUR/USD moved sharply lower on Friday; the slide through 1.1030 support will erode technical support and the break below the key 1.1000 level will also undermine the eur bulls' confidence, potentially targeting 1.0845.
The latest data fom the eurozone confirmed that manufacturing remained in recession in August. The UK manufacturing data also recorded a further deterioration to 85-month lows. In this context, investors are discouraged with a bleak outlook for the European economy.
On Monday, US financial markets are closed for the Labor day holiday that will inevitably subdue trading activity. Investors are cautious awaiting key economic data this week. The ISM manufacturing data will be released on Tuesday. Besides, the crucial data on the US labor market is due on Friday.
There is certainly the risk of weakness in the ISM manufacturing release, but the US dollar is still seen as the best of a bad bunch in the short term.
There is also evidence of a lack of dollar liquidity in global markets which will underpin the US currency. Therefore, some one is still poised to sell EUR/USD.
Labor Day may also stem the flow of rhetoric from President Trump. There is, however, no doubt that he will be watching the markets closely. On Friday, he continued his criticism of the Federal Reserve and noted that the euro was declining sharply which he also claimed was the result of the Fed's procrastination.
President Trump remains a wild card in the short-term outlook. With the euro at two-year lows and the Chinese yuan at 11-year lows, the risk of US intervention or legislation in an attempt to weaken the dollar is a clear danger.
Any direct intervention would push the US dollar sharply lower in an immediate response even if the moves are retraced quickly.
東京的年通脹率從6月的3.1%下降至7月的2.9%。不包括食品和能源價格的核心指數也同樣從3.1%放緩至2.9%。
市場繼續向上衝刺,因為最壞的預測並未成真。Donald Trump曾威脅對日本和歐盟徵收30%的關稅,但他們實際被課稅15%。
在報導指出美國和歐盟達成一項艱難的協議後,歐元兌美元匯率上升。根據該協議,歐盟將面臨15%的關稅。
週一沒有預定的宏觀經濟報告。因此,除非唐納德·川普發表一些新的高調聲明或決策,否則交易員可能會面臨低波動性和平淡的市場。
週五,英鎊/美元貨幣對大幅下跌。英鎊的這一下跌顯得有些令人費解,因為並沒有強而有力的基本面原因支持。
上週末英鎊/美元貨幣對大幅下跌。這次英鎊的急劇下跌引發了一些困惑,因為沒有足夠的理由支持這種走勢。
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