Collinson FX Market Commentary - Apr 16

Collinson FX Market Commentary - Apr 16 - Trump jawbones USD down

by Collinson FX on 16 Apr 2017

Patrick Haybittle (NZL) Mens RS:X - Aon Youth Worlds 2016, Torbay, Auckland, New Zealand, Day 4, December 19, 2016 Richard Gladwell www.photosport.co.nz

Collinson FX Market Commentary - Apr 16 - Trump jawbones USD down

April 16 - The Easter long weekend led to a selloff triggered by some dovish currency commentary from POTUS. Trump refused to label the Chinese as currency manipulators and observed the Dollar was overvalued. This had an immediate impact on currency and equity markets.

The EUR jumped to 1.0670, while the Yen ventured in to the 108's, although by the close of trade they had settled back down. The commodity currencies surged, with the AUD jumping almost a big figure, to 0.7570. This held ground gained, despite a recovery in the Dollar, as did the NZD.

The KIWI was testing 0.6900, on the downside, but spiked towards 0.7000 with the Trump jawboning. The coming week is full of significant global economic data releases which will impact currencies while Geo-Political developments remain the major driver of any substantial click here and here Or for the latest update click here

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