Everest Fortune Group | Daily Analysis: 15 May 2019
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Daily Analysis: 15 May 2019

Daily Analysis: 15 May 2019

JPY

 

Fundamental Analysis

(15 May):  JPY moves sideways while risk sentiment waxes and wanes. But one thing is for sure that it won’t be the start of stabilization even though Trump claims that he will meet President Xi at June’s G20 summit. China’s weak data release spurs the demand for JPY while the market could still see another disappointment release – U.S. retail sales tonight.  JPY could again tick higher after recent trade tensions eased off.

 

 

(14 May): Transatlantic relations are not too smooth at the moment either as EU is finalizing a list of American goods to target with retaliatory levies in an event Trump imposes tariffs on car imports, trade Chief Cecilia Malmstrom said. He is expected to make a decision by 18 May. Elsewhere, the escalating trade tensions added bearish pressure to the currency as China retaliated by raising duties to 25% on $60 billion worth of US goods starting from 1 June, defying Trump’s warning against substantial retaliation.

 

 

(13 May):NZD remains under pressure on the first trading day of the week with US-China trade war showing little signs of de-escalation. On Saturday, Trump warned China not to impose retaliatory tariffs or it would face worst terms, while adding further that he would live to collect bigger tariffs. Trump’s comments came a day after the US hiked tariffs on $200b worth of chinese goods from 10% to 25%.

 

 

 

Technical Analysis

USD

Fundamental Analysis

(15 May):  JPY moves sideways while risk sentiment waxes and wanes. But one thing is for sure that it won’t be the start of stabilization even though Trump claims that he will meet President Xi at June’s G20 summit. China’s weak data release spurs the demand for JPY while the market could still see another disappointment release – U.S. retail sales tonight.  JPY could again tick higher after recent trade tensions eased off.

 

(14 May): Transatlantic relations are not too smooth at the moment either as EU is finalizing a list of American goods to target with retaliatory levies in an event Trump imposes tariffs on car imports, trade Chief Cecilia Malmstrom said. He is expected to make a decision by 18 May. Elsewhere, the escalating trade tensions added bearish pressure to the currency as China retaliated by raising duties to 25% on $60 billion worth of US goods starting from 1 June, defying Trump’s warning against substantial retaliation.

 

(13 May): The uncertainties in the trade talks have led capital to flee away from AUD and into Japanese Yen. The reflects that concern that China may not compromise this time and the trade war can escalate. China’s People’s Daily said in a front-page commentary that the U.S. should take full responsibility for the setbacks because it went back on its word and imposed more levies on China products. The market is waiting for China’s countermeasures against the tariffs. JPY could benefit from the risk aversion. .. 

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