1.07 - USD is growing higher and higher after the G-20 summit
- by Anna K.
If we can’t say that a lot has happened over the weekend, then we can say anything of it. The G20 summit that took place in Osaka was certainly an event worth paying attention to, and that is exactly what all traders did over the weekend. After all, one of the biggest economic and trade conflicts of the last decade – trade war between China and USA was being talked over by the leaders of the two countries. And it seems that Trump came out a winner from the negotiations. And it is not really surprising for us. Trump knows how to push and how to get what he wants, so the US win in trade negotiations would really not surprise us at all. The only question is – do we really need to know the compromise made by China or do we want to keep our faith in the country?
Of course the greenback couldn’t help but rise to such news. We might be one step closer to the end of the trade war! The USD can only surge on such news! Isn’t that what we were waiting for? Nothing bring us more joy that to see such dynamic of the USD, although thinking about it, we are going to see a lot of failing assets today. Gold, EUR/USD, GBP/USD and a lot of other major players are going to be in the red zone today.
Of course USD growing is better that the usual unpredictability of the currency. But it pushing on all of the other currencies can result in losses today. Use your trading signals to be sure of the USD movements through the day.