Forex Signals Brief for June 20: Trade Wars Keeping Markets on Edge
Rowan Crosby • 1 min read
Markets still remain on edge as the rhetoric surrounding the trade wars continues to grow. While prices certainly haven’t fallen off a cliff, there were some clear flows towards the safe-havens on Tuesday. And that’s a theme that will likely continue for the rest of the week.
There is doubt as to whether any of these ramped up claims, such as $400 billion worth of tariffs, will ever come to fruition. As it gets to the point that the US economy is actually at risk. And that is the last thing the US President actually wants.
Looking at the session ahead, it’s another quiet day on the economic data front. We’ll hear about the state of US house sales and get crude oil inventory data. Otherwise, prices will continue to be driven by the headlines surrounding the US-China trade battles.
Forex Signal Update
The FX Leaders team put in another day where we were square with the card. Finishing at two and two once again. The markets are still digesting much of the news of last week, making things slow going at the moment.
Bitcoin – BTC is right at resistance. This session will be important as it could go either way right now.
Gold – Gold keeps pressing lower, despite the trade wars as the USD keeps on pushing higher.
DAX – We had a winning signal in the German DAX yesterday and we will be looking for another opportunity today.
USD/JPY – Active Signal
The USD/JPY should by rights be selling off. We’ve seen strong flows to the JPY. It appears the USD just keeps outpacing it. Which is probably contrary to what we might expect. Hopefully, we get a turning point shortly. The profit target is at 109.56.