You are here: Home > articles > Forex > US Open Preview – Dollar climbs as North Korea considers denuclearization; European stocks rise further
US Open Preview – Dollar climbs as North Korea considers denuclearization; European stocks rise further
March 6, 2018 1:26 pmVideo
Latest News
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
Here are the latest developments in global markets:
Day ahead: Trump’s trade strategy under speculation; Australia’s Q4 GDP growth pending in the Asian session
Looking forward to the day, there will be few economic releases to drive the markets, while trade headlines will continue to attract interest although concerns of a potential trade war have somewhat eased today.
At 1500 GMT, the US will report readings on factory orders for the month of January, with analysts anticipating the number of purchase orders placed by manufacturers to decline for the first time in five months, falling by 1.3% on a monthly basis. This compares with a growth of 1.7% seen in December. At the same time, Canada will deliver February’s Ivey PMI which fell to the lowest level since June in January.
Milk auctions will be in focus in New Zealand as dairy products dominate the country’s exports. The release, though, is tentative, lacking a specific time, but most economic calendars have it marked for 1200 GMT.
Elsewhere, the EU will present its draft guidelines for a post-Brexit trade deal on Wednesday. However, the document is expected to be short of details since discussions on the issue have not developed substantially yet, probably forcing the UK Prime Minister to form her position on the trade front.
In energy markets, investors will be waiting for the API weekly oil report due at 2130 GMT.
Turning to today’s public appearances, the New York Fed President William Dudley (permanent voter) will be speaking at 1230 GMT ahead of the Bank of England’s chief economist and MPC member Andy Haldane, who will deliver remarks at 1800 GMT. The policymakers are not expected to comment on monetary policy directly but any reference to the topic is always a possibility from these highly-influential policymakers. Later in the day, the Governor of the Reserve Bank of Australia, Philip Lowe, will give a speech at the AFR Business Survey in Sydney at 2135 GMT, a few hours before Australia Statistics report GDP growth figures for the final quarter of 2017 early on Wednesday (0030 GMT).
Trump’s potential protectionism measures regarding aluminum and steel imports announced on Friday will continue to keep traders cautious but probably to a less extent following calls by the House Speaker Ryan Paul to reconsider the matter, while the House economic adviser Gary Cohn advised US companies dependent on the metal to meet the US President this week in an effort to prevent the order. However, the EU has already started preparing its position in response to Trump’s tariffs. According to Bloomberg news, the EU plans to impose bans on US brand imports including Harley Davidson motorcycles, jeans, and whiskey as well as agricultural and steel products.
Related Posts: