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EUR Is StrongMarket Review, 18.09.2018

18 september 2018 - Fx4News

Still, the pair looks quite stable after rising frantically on Monday. The major pair is currently trading at 1.1686; it rose to 1.1717 earlier today, but was unable to stay there.

A bunch of events is working against the USD. The bond yields fell, which left the greenback without its regular support. Meanwhile, the US decided to impose the additional customs duties on Chinese goods, which makes the trade relations between the two countries very tense.

At the same time, the economic reports in the US left much to be desired. As such, the manufacturing Business Climate Index in New York went down to 19.0, with the previous value at 25.6 and the forecast at 23.2. The deteriorating performance of the manufacturing production influenced the USD negatively.

As for the next trade war round, the tension is rising drastically here. Donald Trump announced imposing new customs duties on Chinese goods: they are going to be 10% higher first, and then again will be raised starting 2019. The market is waiting for China to respond, and yet no response has been issued so far.

There are hardly any events in the economic calendar today. Still, there's housing business activity index released by NAHB, which may fall a bit short of expectations.

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