USD remains weak ahead of G20 Financial Meeting
March 17, 2017 10:28 amVideo
Latest News
- Analysis of the trading week from July 24th to July 28th for the GBP/USD pair. COT Report. July 29, 2023
- Analysis of the trading week from July 24th to July 28th for the EUR/USD pair. COT Report. Softening of Christine Lagarde’s July 29, 2023
- Bitcoin retests sellers July 28, 2023
- USD/CHF: further growth possible July 28, 2023
- July 28, 2023 : Analyzing Recent Trends and Trading Opportunities in EUR/USD: A Technical Analysis Perspective July 28, 2023
- July 28, 2023 : EUR/USD Intraday technical analysis and trading plan. July 28, 2023
- July 28, 2023 : GBP/USD Intraday technical analysis and significant key-levels. July 28, 2023
- USD/CHF: oversold signals above 0.8660 support July 28, 2023
- USD/JPY near 141.31 key resistance July 28, 2023
- BTC update for July 28,.2023 – Key resistance on the test July 28, 2023
- GBP/USD analysis for July 28, 2023 – Potential end of the upside swing nad further drop July 28, 2023
- Eurozone CPI & GDP data to test euro’s freefall – Forex News Preview July 28, 2023
- Analysis of Gold for July 27, 2023 – Potential for the further drop and end of the upside correction July 28, 2023
- META stock price remains inside bullish channel July 28, 2023
- Ichimoku cloud indicator analysis on Gold for July 28th, 2023. July 28, 2023
- Technical analysis on EURUSD for July 28th, 2023. July 28, 2023
- XRPUSD monthly analysis for July 2023. July 28, 2023
- GBP/USD: Analysis for the US session on July 28th (review of morning deals). Pound buyers are attempting to improve the situation July 28, 2023
- US premarket on July 28: US stock market recovering after yesterday’s sell-off July 28, 2023
- Technical Analysis – USDJPY slides but stays above uptrend line July 28, 2023
Friday March 17th sees the start of a 2-day meeting of the world’s top finance ministers in Germany. The fear among G20 members is the continuing US protectionism, though the recent elections in the Netherlands have indeed provided some optimism that Europe is moving towards more liberal policies. Chancellor Merkel will be meeting with President Trump today with the hope that the G20 Nations can get support for free trade and avoid getting into any trade wars with the United States. This point was raised by U.S. Treasury Secretary Munchin following a meeting in Berlin on Thursday with German Finance Minister Schaueble. Mnuchin insisted that Trump supports free trade as long as it is “fair,” stressing that countries should not manipulate their currencies, since such actions jeopardize economic growth. He also reaffirmed his support for a strong USD over the long term as being good for economic confidence in the U.S. Schaeuble commented that the U.S. & Germany agreed that, “despite all the differences”, they had to push forward in cooperating to ensure sustainable global growth and prosperity. Other G20 countries that Trump has stoked tensions with, such as China and Mexico, will also be looking for clues as to the status of their relationship with Washington. Beyond Trump’s trade-and-economic agenda, another focus of the Baden-Baden meeting will be the steps aimed at promoting sustainable global economic growth and the means of driving structural reforms forward. The finance chiefs are also to consider measures for improving the investment conditions in African countries. The Group of 20 represents two-thirds of the world’s population as well as 85% of global economic output and 80% of trade. Friday is relatively light on economic data releases although we may see some price volatility in USD with the release of US Industrial Production at 13:15 GMT (consensus: 0.2%, previous: -0.3%) and the University of Michigan Sentiment Index release at 14:00 GMT (consensus: 97.0, previous: 96.3).
Source: FX PRO News
Related Posts: