(MENAFN- DailyFX) US Dollar, Euro, US-China Trade War – TALKING POINTS US Dollar ,Euroclosely monitoring Sino-US trade war negotiations. Bare economic data docket leaves traders exposed to external risks OECD revised global growth forecasts down, citing trade tensions
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US Dollar and Euro traders will continue to scrupulously monitor ongoing US-China trade talks after an envoy from Beijing arrived in Washington on September 18. No updates have yet been reported, though market participants will be anxiously waiting to see if any progress has been made on resolving one of the most formidable headwinds to global growth.
On Thursday, Advisor to US President Donald Trump Michael Pillsbury said the commander in chief would consider reinstating levies on Chinese goods if Beijing and Washington couldn't agree on a deal soon. Markets have remained hostage to the uncertainty over Washington's unpredictable trade war strategies, exposing equity markets to violent volatility and uncertainty.
More so, the erosion of a rule's-based system has increased the risk premium in markets at large while also boosting fueling demand for anti-risk havens like theUSD . As a result, the OECD said, ' a collective effort between nations to restore predictable and transparent rules to world trade are required for bringing confidence and investment back into the economy '.
Chart of the Day:EUR/USDDowntrend Persists as US Dollar Strengthens Amid Strong Demand for Liquidity
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EUR/USD chart created usingTradingView
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--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com
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