The Japanese yen is back in the Forex market reconquest on investors' flight to safety. Observers are almost certain the US financial authorities will lower the main interest rate - hence, the USD is dragged down. What else does Friday bring?
Trading plan for May 20
Information is not investment advice
Let’s find out what has been moving the market today.
- After the unexpected victory for conservative Prime Minister Scott Morrison the Australian dollar was supported. However, the trade war risks keep circulating and any fresh negative news may hurt the aussie. Take a look at AUD/USD.
- After the People’s bank of China’s comments on keeping the yuan stable, the Chinese currency gained. Its strength now depends on the path of trade talks. - Also, pay attention to the USD/BRL pair. The trade war uncertainties, national protests against the freeze of educational budget and cuts of the growth forecasts weakened the Brazilian currency heavily. The release of the level of business confidence today at 17:00 MT may support the BRL, however, the risks of the further weakness remain.
Did the coronavirus hit the United States? What does it mean for the USD? Which other events will impact the American currency today?