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EURUSD Spikes Higher as Trump Plans to Delay EU Auto Tariffs - US Market Open




(MENAFN - DailyFX) MARKET DEVELOPMENT – EURUSD Spikes Higher as Trump Plans to Delay EU Auto Tariffs

DailyFX Q2 2019 FX Trading Forecasts

EUR : The Euro spiked higher, alongside the DAX following reports that Trump is said to be planning to delay imposing auto tariffs for up to 6-months. ( full story ) As a reminder, President Trump had to make a decision by May 18th on whether he would go ahead with placing tariffs on EU auto imports. In reaction, EURUSD reclaimed the 1.12 handle, while DAX surged 1.75% to break above the 12000 level.

GBP: The Pound is the notable underperformer yet again, which current trades at the lowest level since February 15th against the USD . As talks between the government and Labour continue, the Labour spokesman once again poured cold water on the hopes of a Brexit breakthrough, thus weighing on the Pound, which in turn raises the likelihood that PM May's 4th attempt of getting the withdrawal agreement passed will fail. ( full story )

JPY: Investors continue to flock towards safer assets, one of which has been the Japanese Yen and Swiss Franc , which outperform its major counterparts. While the trade war tensions between the US and China keep investors on the defensive, weak data from China and the US also provides a fresh reminder that global growth is indeed slowing down.

CAD : USDCAD saw a relatively muted reaction to the latest inflation data, moving a marginal 15pips higher on the release before retracing the initial uptick. Headline CPI had printed in-line with expectations, however, the preferred measure of the BoC (average of trim, median and common) dipped slightly to 1.9% from 2%. As such, this is unlikely to shift the Bank of Canada from its neutral stance. ( CAD Technical analysis )

EURUSD Spikes Higher as Trump Plans to Delay EU Auto Tariffs - US Market Open DailyFX Economic Calendar : – North American Releases

EURUSD Spikes Higher as Trump Plans to Delay EU Auto Tariffs - US Market Open IG Client Sentiment

EURUSD Spikes Higher as Trump Plans to Delay EU Auto Tariffs - US Market Open How to use IG Client Sentiment to Improve Your Trading

WHAT'S DRIVING MARKETS TODAY

' Dow Jones at 200-day; Crude Oil, Gold Price Charts & More ' by Paul Robinson, Currency Strategist ' GBPUSD Price Outlook: Risk of Bearish Breakdown ' by Justin McQueen, Market Analyst ' Crude Oil Prices Fail to Benefit from Middle East Tensions ' by Martin Essex, MSTA , Analyst and Editor ' Using FX To Effectively Trade Global Market Themes at IG ' by Tyler Yell, CMT , Forex Trading Instructor --- Written by Justin McQueen, Market Analyst

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EURUSD Spikes Higher as Trump Plans to Delay EU Auto Tariffs - US Market Open

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