The US dollar index hit its highest level in a week yesterday, as financial markets continue to focus on trade war tensions.
|Currency Pair||% Change (Month)||Difference on £200,000|
The decision by US President Donald Trump to increase tariff’s on up to $200bn worth of goods imported from China this month has spooked global markets. We’ve also seen equity markets sold off in dramatic style as a result, with the S&P 500 seeing its biggest 1-day loss of 2019 last week.
US President Trump’s tone has eased off since the past weekend and this has resulted in some recouping of the losses within stock markets, but until his comments are made official financial markets are expected to remain cautious. The cautious approach has resulted in gains for the US dollar due to its safe haven status, so those of our clients following US dollar rates should continue to monitor how the US-China talks, and the US-EU trade talks progress.
In recent years there hasn’t been an individual whose words carry as much potential to impact currency or stock markets to the extent that Donald Trumps do, so it’s worth following his comments to gain an insight into the next market movements.
If you would like to be notified in the event of a spike for USD rates do feel free to register your interest with us.
Should the fears of a global slowdown pass, I would personally expect to see the recent gains for the greenback reversed. If you would like my opinion on an upcoming transfer you can call us on 01494 725 353.
The dollar was boosted further yesterday thanks to US homebuilding figures being better than expected. This afternoon at 3pm the Michigan Consumer Sentiment Index for May will be released with a positive figure of 97.5 expected. Higher figures indicate a higher willingness of consumers to spend so it’s worth being aware of this release.
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