Will the US dollar jump on Thursday?

4 September, 2018

The US China trade war has now come to the top of the headlines again with US President Donald Trump keen to go ahead with an extra $200 billion worth of tariffs on Chinese goods.

The announcement could come as early as this Thursday which would likely cause the US dollar to rise sharply as investors seek out the safehaven status of the greenback.

Several rounds of strong economic data released from the US last week is also bound to keep the US Federal Reserve on Track to raise interest rates this month which is also going to provide support to the US dollar.

“The dollar edged higher against a basket of major currencies during early trade, as US-China trade tensions boosted its safe-haven appeal. With the U.S. economy growing faster than initially estimated during the second quarter, market expectations remain elevated over a rate hike in September,” said FXTM research analyst Lukman Otunuga.

With the American economy performing strongly, President Trump may feel emboldened to introduce tarrifs against other countries as the strategy seems to be working and he believes it may help his party’s chances at the midterm elections coming up in November.

One recent quote from Trump seems to sum up his future ambitions regarding trade tariffs

“Many things. A toughness of attitude would prevail,” Trump said.

“I’d throw a tax on every Mercedes-Benz rolling into this country and on all Japanese products, and we’d have wonderful allies again.” He added.


Source link  
Gold price has rallied sharply

A declining stock market is always good for gold as investors look for somewhere safe to ride out the uncertainty. Precious metals are seeing buying...

Pound surges, rate hike may follow

The British pound is powering ahead today against its US counterpart as more positive data raises speculation that a rate hike from the Bank...

Gold may rally towards years end

After a horror 6 months the gold price has found much needed support over the last 4 weeks and is now sitting above the $1,200 mark and depending...


New tariffs lift US dollar

As widely expected, US President Donald Trump has slapped another $200 billion worth of tariffs on Chinese goods which has caused a lift in the US dollar today against the major...

Big Money is avoiding the pound

Just when we thought that a deal between the European Union and Great Britain was in the making and thus avoiding a hard Brexit, another spanner...

Pound gains on Brexit negotiations

The British pound has surged back through the $1.30 mark after progress made today on Brexit negotiations raised speculation that a deal...


IEA report siks oil

The oil price had a rough time last week, hitting its lowest level since join after a report by the energy watchdog showed rising inventories which raises concerns over global growth...

Gold in the hands of the US dollar

The last 2 months has been extremely painful for those who invested in gold with the precious metal plummeting more than $100 and at the time...

Is Yen finished as a safe haven currency?

Along with the Swiss Franc, the Japanese Yen has historically been the other currency that the market has deemed a safe haven in times of financial instability...


In the past 24 hours Bitcoin has gained 0.21% and reached $6393.07985752. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.2672% and is now at $1.1357. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 0.85% and is now at $210.511298273. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM87%
3HYCMHYCM86%
4Alfa-ForexAlfa-Forex85%
5FxProFxPro84%
6FIBO GroupFIBO Group83%
7OctaFXOctaFX82%
8HotForexHotForex81%
9FXCMFXCM79%
10AvaTradeAvaTrade76%
  


Share: