As New York settles in, fallout from Friday's move by the US to impose trade sanctions on Chinese paper products continue to reverberate. As usual, the market prices in the worst case scenario, that China will accelerate reserve diversification.
Strong US data in recent days is countervailing the trade jitters somewhat, at least in advance of the ISM data. If the data is not very strong, a further run to the topside in EUR/USD is seen. Offers are eyed at 1.3375/80 near-term with more ahead of 1.3400/10. EUR/USD trades at 1.3367.
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