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Delayed reaction to the dollar rise yesterday I don’t put a lot of faith in intermarket relationships. For example, it is expected that if the dollar goes higher, gold goes lower.   Yesterday,that relationship did not stand true. The dollar rallied strongly, and gold closed higher. Go figure.  Today, may be a catch up day, however,
AUD/JPY The employment report was soft out of Australia last night and the initial response was a fall in AUD. China industrial production was a dissapointment and what’s bad for China, is bad for the Aussie since Australia conducts a lot of trade with China. So we have a straightforward pair to trade against each other. Weak AUD and
Well, not much to be honest Both leaders have entered into the meeting on a positive note and so far things are still looking that way. All talks since the morning have been very much private and confidential, and Trump and Kim are now having a working lunch after discussions earlier and a one-on-one talk.
The market shrugs…. The fireworks from the G7 are not causing much of a stir in the US stock markets.  The Europeans stock reaction seemed to have helped (most major indices are higher). There are pockets of weakness in the auto sector in Europe. Shares of Daimler Benz in Germany are trading at the lowest
CAD lags behind on the day It’s a bit of a messy start to the week given the G7 summit over the weekend, but Trump’s tweets after dominated headlines and were the cause of early moves in the currencies space. Commodity currencies and the dollar opened with a gap down with expectations of a poorer
Into yen and out of CAD is the in a nutshell response to President Trump backing out of his G7 agreement:  USD/JPY is around 109.25, down from 109.45-odd late NY time on Friday USD/CAD up around 1.3000, from around 1.2925 or so late Friday Trump’s tweet has thrown the G7 into confusion. It looks like
G7 on trade: Some emotion but civilized, diplomatic Coming Up! Title text for next article Comments from sources and participants Source: G7 leaders trade session had dome emotions, but civilized, and diplomatic G7 leaders presented Trump with facts and figures. Trump countered with his own different data