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The Euro is looking upwards. Overview for 13.05.2019

13 may 2019 - Fx4News

The major currency pair is getting more expensive due to the USD weakness.

Early in the week, EURUSD is looking positive and may continue its growth. The current quote for the instrument is 1.1235. 

“Greenback” started retreating last Thursday, when they said that US 10Y decreased 0.21 percent or 0.23% since the beginning of 2019. The latest decline was caused by possible complications in the US-China trade talks. On Monday, market players are focused on increase of import tariffs on Chinese goods by the USA, from 10% to 25%. In other words, after a 6-month break, trade wars moved to a new level. Parties haven’t rounded off the talks, but the US President Donald Trump keeps pushing China. For the currency market, it’s a great risk factor, that’s why investors’ demand for “safe haven” assets may go up. 

China has already responded that it would do the same, but may be this is what Washington really wants? At the same time, some monetary policymakers discuss possible reduction of the benchmark rate in order to smooth the consequences of escalating trade wars. 

Today’s economic calendar is almost empty. In the evening, the US Federal Reserve member Richard Clarida is scheduled to speak, but he is very unlikely to say something really new. 

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