US FX Handover: Traders On Tenterhooks Tracking Trade Talks

Fundamental analysis of Forex market

US-China trade anxiety peaks, with President Trump noting that it was still possible to get a trade deal this week, but that he had an “excellent alternative” to a China deal. Negotiations resume at 17:00 ET (21:00 GMT) ahead of an escalation of tariffs at midnight ET.

The safe haven Swiss franc and Japanese yen were the strongest major currencies today.

The US dollar was the weakest major currency, hurt by trade fears and a slight miss in final PPI demand figures for April (2.2% y/y vs. 2.3% eyed).

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EUR/USD held steady within a triangle pattern despite decent EU data.

Gold edged higher, while oil and US stock indices fell. Bitcoin ticked above $6,000 for the first time since November

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