8.11 - USD attracts our attention once again
- by Anna K.
American dollar and American economy has not been the center of our attention for a long time now. And that is with good reason. America has been very much embroiled in political turmoil and economic one. That is why USD has not been interesting to us all that much. But today we simply have to look at USD, as once again, there is news on trade war and it is good one. One that is bound to bring traders back into the loop and attract our attention towards USD, at least for today.
As it is reported, trade talks as finished! Well, at least the first stage of the trade talks. And, as it happens, it is finished successfully. US agreed to rollback a portion of trade tariffs and China agreed to import more of the American goods, which is a pretty good step towards fixing trade deficit between the countries – a reason for this whole ordeal in the first place. We are still some time away from signing the conclusion of the deal, but it is a good step towards getting rid of the trade war altogether.
Of course, USD couldn’t help but attract investors with news like that. Surge of the greenback began as soon as the news of the conclusion of the first stage was announced. And it might very well continue into today isn’t that good news? Well, for USD/JPY and USD/CAD it is good. EUR and GBP are going to suffer today. It is clear. But all and all strong and recovering dollar might be a sign for traders to focus on American economy once again.
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