15/ 08/ 2018

US-Turkey Trade Tension in Focus with UK Inflation & US Retail Sales in the Spotlight

The dollar held firm near a 13-month high against a basket of major currencies early this morning after safe-haven demand on fears over fallout from the Turkish lira's recent drop boosted the U.S. currency.The greenback's strength was bolstered by the euro's fall, which has been dogged by concerns over the exposure of European banks to financial turmoil in Turkey.

Looking ahead of the day, inflation numbers from UK will be released that needs to jump to hit pause on the Pound’s demise, while U.S retail sales could influence a resurgent Dollar.

14/ 08/ 2018

German Prelim GDP on spotlight for EUR

The euro slipped lower against the dollar on Monday as fallout from the Turkish lira's plunge sent the euro to a new 13-month low. Investors have grown increasingly concerned about President Tayyip Erdogan's growing control over the economy and a deepening diplomatic rift with the United States, with those concerns snowballing into a market panic last week. Turkey's lira clawed back some losses on Monday from a record low 7.24 lira per dollar after the country's central bank said it would provide liquidity and cut reserve requirements for banks, but the currency was still down around 10 percent on the day.

12/ 08/ 2018

Week Ahead | Further Tensions Between Turkey & United States could derail the "Rival Currencies"

The global markets were shaken from a comfortable slide into the weekend amid the ‘Summer Lull’ as another international diplomatic crisis between US and Turkey threatened financial stability.

The euro declined against the dollar on Friday as dollar as a plunging Turkish lira sparked broad risk aversion, with investors worried about a contagion effect on European banks. Turkey’s lira plummeted as much as 18 percent on Friday as worries about President Tayyip Erdogan's influence over monetary policy and worsening U.S. relations snowballed into a market panic.

Sterling declined against the dollar on Friday’s basis of a stronger dollar and continued concerns that Britain could leave the European Union without a trade deal pushed investors to sell pounds.

09/ 08/ 2018

US Economic Data back at the Center Stage after quieter Trade Affairs between Trump & China

The dollar has weakend since hitting a three week high on Monday, when the prospect of a full-blown trade war increased demand for the currency. After being under pressure during the first half of the day, dollar's weakness eased with US opening, the likelihood Britain crashes out of the European Union without a trade deal has increased, an outcome that would hurt an already weak pound, according to economists and foreign exchange strategists. Bank of England Governor Mark Carney said on Friday Britain faces an “uncomfortably high” risk of leaving the EU with no deal, while on Sunday trade minister Liam Fox put the odds of such an outcome at 60-40.

Looking ahead, trade war chatter remains in focus for the USD with Jobless Claims to be released later today.