Yesterday, USD weakened against most major currencies except JPY.
Earlier today, White House trade adviser Peter Navarro said in an interview that the trade deal between the U.S. and China is “over”, stating that President Trump has decided to end the trade deal with China as intelligence officials become more confident that the COVID-19 pandemic originated in a Wuhan laboratory. Shortly after the interview, Peter Navarro clarified that his comments were “taken wildly out of context” and were not about the Phase 1 trade deal, which remains intact. Market participants went risk-off and turned to safe-haven currencies like the USD and JPY for a short period of time before recovering after the clarification.
The flash PMI data will be released later at 2145 (SGT).
Earlier today, White House trade adviser Peter Navarro said in an interview that the trade deal between the U.S. and China is “over”, stating that President Trump has decided to end the trade deal with China as intelligence officials become more confident that the COVID-19 pandemic originated in a Wuhan laboratory. Shortly after the interview, Peter Navarro clarified that his comments were “taken wildly out of context” and were not about the Phase 1 trade deal, which remains intact. Market participants went risk-off and turned to safe-haven currencies like the USD and JPY for a short period of time before recovering after the clarification.
The flash PMI data will be released later at 2145 (SGT).
- Flash Manufacturing PMI (Forecast: 50.0, Previous: 39.8)
- Flash Services PMI (Forecast: 46.9, Previous: 37.5 revised from 36.9)
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