Mar 23rd, 2018: Tariffs Spark Flight to Safe Havens
March 23, 2018 8:11 amVideo
Latest News
- Trading plan for GBP/USD on April 18. Simple tips for beginners April 18, 2024
- Trading plan for EUR/USD on April 18. Simple tips for beginners April 18, 2024
- The Fed and global instability: a double blow to American markets April 18, 2024
- Forecast for EUR/USD on April 18, 2024 April 18, 2024
- Forecast for GBP/USD on April 18, 2024 April 18, 2024
- Forecast for AUD/USD on April 18, 2024 April 18, 2024
- Outlook for GBP/USD on April 18. Pound was not impressed by the inflation data April 18, 2024
- Outlook for EUR/USD on April 18. Euro has fallen into a new flat April 18, 2024
- GBP/USD. Correction or trend reversal? April 18, 2024
- The FOMC will not lower rates in 2024 April 18, 2024
- Powell made a bold point, and Bailey did not report anything important April 18, 2024
- Will the euro take a risk? April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 17-19, 2024: sell below $2,400 (21 SMA – double top) April 17, 2024
- Technical Analysis – GBPCAD hits a wall but bulls not ready to give up April 17, 2024
- Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray) April 17, 2024
- Analysis for the EUR/USD pair on April 17th. Jerome Powell didn’t help the dollar much April 17, 2024
- Analysis for GBP/USD pair on April 17th. British inflation overtakes American inflation April 17, 2024
- USD/JPY: Simple Trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- EUR/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
Morning Report: 07.00 London
This morning, global markets are on the back foot as money flows into safe havens. Asian markets have been spooked by Trump’s tariff plans amid further political uncertainty as Trump names the new National Security Advisor.
The yen is in demand, with the USD/JPY hitting its lowest level since 2016. Away from the USD/JPY other yen pairs are also lower, but these losses come after hefty losses yesterday. The AUD/JPY’s losses were notable yesterday in particular.
After a tentative recovery yesterday, the US Dollar index is on the back foot once again. The EUR/USD is leading the gainers, with the GBP/USD edging higher again. The euro has the edge over the pound, with the EUR/GBP finishing higher following a volatile session yesterday. European PMI data came in lower than expected, while UK retail sales impressed.
The AUD/USD is also attempting another recovery after yesterday wiped out Wednesday’s gains.
Gold continues to make gains as the dollar remains weak.
Coming up today
Today, we have Canadian CPI and retail sales at 12.30.
Also at 12.30, we have US core durable goods.
MPC member Vlieghe speaks at the same time.
Trade Idea
The yen is back in control as traders seek out safe harbours. Meanwhile Trump’s trade tariffs are wreaking havoc across Asia.
The AUD/JPY has been weak, but there could be further weakness from here.
A good way to play this is a LOWER trade predicting that the AUD/JPY closes below 80.50 in 14 days for a potential return of 120%.
Related Posts: