31FX – Risk rides the Navarro rollercoaster, Eurozone/ UK PMIs, virus stats in focus. See forex pairs that this week. Read more here.
The US dollar showed some signs of life amid a wild Asian ride this Tuesday, as the risk sentiment swung dramatically on the US-China trade deal mix-up.
White House Trade Adviser Peter Navarro said in a Fox News interview in early Asia that the trade deal with China has fallen apart.
Asian stocks and the US equity futures regained the lost ground, benefiting from the Wall Street rally and Trump’s confirmation.
The risk-on mood dominated and drove USD/JPY beyond 107.00.
AUD/USD jumped back to test the multi-day highs of 0.6935 while the kiwi remained capped below 0.6500
EUR/USD consolidated below 1.1300, with the upside stalled ahead of the Eurozone Preliminary PMIs.
GBP/USD pared back gains to trade below 1.2500 ahead of the UK Preliminary PMIs and BOE Governor Bailey’s speech.
Gold prices refreshed monthly highs just above $1760 before turning neutral around $1755.
WTI cracked the 41 barrier for the first time in three months but failed to resist above it heading into the API data release.
Cryptocurrencies consolidated the recent surge, with Bitcoin holding up above $9600.