Today Xi Jinping the President of China will meet Donald Trump at his Florida estate. His aim will no doubt be to come off as a resolute leader who can hold his own against the US President.
This will be no easy task considering some Trump’s latest meetings with world leaders. He recently refused to shake the current chancellor of Germany’s hand, Angela Merkel. Trump has recently questioned China’s stance on North Korea. Trump has stated he is willing to take action against the North Korean’s. North Korea recently fired an intermediate range ballistic missile into waters off its east coast. This could be a move to exacerbate tensions between the two leaders.
The Chinese president has claimed he is prepared to address Trump’s claims the Chinese are manipulating the value of their currency. Trump has said he is willing to impose some quite severe tariffs on Chinese imports. This could have major implications on both countries, with some analysts predicting it could wipe in excess of a trillion USD off each country’s GDP. This meeting could well cause movement in US Dollar value and could set the tone for future Chinese-US relations moving forward.
Non farm payrolls is released tomorrow and is consistently one of the most volatile trading periods of the month. It is a representation of jobs created in the previous month in all areas accept agricultural. It always occurs on the first Friday of every month. Historically data is very difficult to predict, hence the usual big swings in US dollar value. Personally, I would avoid trading during this data release; the market can change so quickly a gain could quickly turn into a loss.
If you have a trade to perform involving US dollars I would consider trading before this event. If I had to put my neck on the line, I think there could be a fall in unemployment due to current strong growth in the US. Call today on 01494 725 353 if you have an upcoming US Dollar requirement and would like more information on how this event could affect you.
Daniel Johnson is efficient, courteous & everything happens on time as directed. FCD would always be my first choice for currency purchases.
Superb service from Daniel Johnson that just gets better.
A very fast and professional service all round from contact to delivery of currencies to one’s chosen destination. Daniel Johnson is the epitome of that fine service too!