Boris and Kathy Forex Weekly – 20-08-2018 – Majors
August 19, 2018 11:32 pm
The second full week in August was another good one for the U.S. dollar. The greenback extended its gains against most of the major currencies but the rally is slowing. We’re beginning to see short covering in pairs like EUR/USD and AUD/USD but the moves have been cautious. The problem is that as we look to the weeks ahead, the recent stabilization was driven by questionable developments for Turkey and U.S.-China trade. Neither problem has been resolved and the uncertainties are preventing a full-fledged recovery in currencies. Looking ahead, the most important event risk on this week’s calendar will be the U.S. and China’s trade talks on August 21 and 22.
The second full week in August was another good one for the U.S. dollar. The greenback extended its gains against most of the major currencies but the rally is slowing. We’re beginning to see short covering in pairs like EUR/USD and AUD/USD but the moves have been cautious. The problem is that as we look to the weeks ahead, the recent stabilization was driven by questionable developments for Turkey and U.S.-China trade. Neither problem has been resolved and the uncertainties are preventing a full-fledged recovery in currencies. Looking ahead, the most important event risk on this week’s calendar will be the U.S. and China’s trade talks on August 21 and 22.
Related Posts: