Canada will release the employment change and the unemployment rate on October 9, at 15:30 MT time.
Tariff threats affect Chinese Yuan
Information is not investment advice
On Monday, Donald Trump’s fresh threats to lift levies on Chinese exports sent ripples through financial markets, thus affecting risk sentiment and backing safe-haven assets.
Over the weekend, US leader announced his plans to lift levies on $200 billion in Chinese goods from the current 10% to 25%, thus sending global equities down and spurring the safe haven appeal of the Japanese currency.
On the contrary, the Chinese yuan headed south to this year’s minimum as investors worried over the impact of the tariff lift on the world’s number two economy. Both the Australian and New Zealand dollars, whose countries have close economic ties with this leading Asian country, demonstrated similar tumbles.
As a matter of fact, riskier currencies, including the Turkish lira, Russian ruble, and Mexican peso also headed south on Monday.
Estimating the greenback’s purchasing potential versus its primary peers the USD index managed to gain 0.1% concluding the trading session at 97.34.
Besides this, the weekly Commitment of Traders Report from the US Commodity Futures Trading Commission uncovered that investors turned out to be the most bullish on the evergreen buck since December 2015, with bets of nearly $34.9 billion.
With Great Britain celebrating a bank holiday on Monday, the UK pound headed south by about 0.6% due to the fact the opposition Labour Party complained that UK Prime Minister Theresa May was disclosing details of their Brexit compromise, thus endangering an agreement.
Meanwhile, the common currency managed to hold its own versus the evergreen buck due to the fact euro zone business activity suddenly got better in April, while retail sales for March evaded an expected slump.
The Reserve Bank of Australia will post a rate statement, which contains an update on the interest rate on October 6, at 6:30 MT time.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
EU Flash Manufacturing & Services PMI will come out on Friday at 11:00 MT time!
The USA will publish unemployment claims on October 22 at 15:30 MT time. How to trade after the release?
Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!