The US payroll report better than expected last Friday and optimism about conversations between the US and China (later today) supported the feelings of risk in the actions in Asia today. The DXY was for the last time around 99, FX analysts of OCCBC, Frances Cheung and Christopher Wong point out.
The daily impulse and the RSI do not show a clear indication
“In FX, the typical risk pairs, including Aud and NZD, were better offered while the Axjs were negotiated in a mixed way. The massive sale of the USD of approximately 10% since the beginning of this year also showed some signs of an attempt. Tariff uncertainty.
“The most optimistic US payroll report could be a trigger for some short coverage in USD before IPC and PPI reports (Wednesday and Thursday, respectively) and the risk of the FOMC event next week. Later today, the secretary of the US Treasury, Scott Besent, the Secretary of Commerce, Howard Lutnick, and the commercial representative of The US, Jamieson Greer, will meet with the Chinese delegation, headed by the Vice Prime Minister He Lifleng, for a second round of conversations in London. “
“During the weekend, China approved some requests for rare earth exports after Trump said that President XI has agreed to restart the flow of minerals and magnets using the materials. It was also reported that Trump told XI that Chinese students are welcome to study in the US Truce on August 12. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
