Yen and Dollar Fall on US, China Trade War Breakthrough Prospects

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TALKING POINTS – YEN, US DOLLAR, CHINA, AUSSIE DOLLAR, STOCKS, TURKEY

  • Yen, Franc and US Dollar drop amid broad sentiment restoration
  • Hopes for US, China commerce struggle de-escalation stoking optimism
  • Aussie and New Zealand Dollars, Euro emerge as outperformers

The markets’ temper brightened in Asia Pacific commerce as merchants battered by turmoil in emerging market assets have been provided a sliver of hope for de-escalation in the trade war between the US and China. That got here by the use of information that the latter nation’s Vice Commerce Minister will journey to Washington to satisfy a high-level delegation for talks in late August.

Price motion was the image of risk-on restoration. Currencies that rose on the again of deteriorating sentiment – the Japanese Yen, Swiss Franc and the US Dollar – turned decrease in tandem. Meanwhile, standby pro-risk alternate options just like the Australian and New Zealand Dollars outperformed. Even the Euro, which has been severely pressured by worries about Turkish crisis contagion, managed to discover a lifeline.

Looking forward, a modest providing of second-tier European and US financial information releases appears unlikely to push sentiment traits out of the highlight. FTSE 100 and S&P 500 futures are pointing firmly increased earlier than the opening bells in London and New York, hinting the upbeat tone has scope for follow-through within the hours forward. Needless to say nonetheless, elevated headline sensitivity threatens the sturdiness of any such transfer.

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ASIA PACIFIC TRADING SESSION

Yen and Dollar Fall on US, China Trade War Breakthrough Prospects

EUROPEAN TRADING SESSION

Yen and Dollar Fall on US, China Trade War Breakthrough Prospects

** All occasions listed in GMT. See the full economic calendar here.

FX TRADING RESOURCES

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the feedback part beneath or @IlyaSpivak on Twitter



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