The optimism we saw after the report with regards to a tentative US-China “truce” was tempered yesterday, with global stock indices trading mixed as investors appear indecisive ahead of the meeting between the US and Chinese Presidents at the G20 summit. Today, ahead of the meeting, market participants may pay some attention to the Eurozone preliminary inflation data for June, as well as the US core PCE index for May.
Investors on the Edge of Their Seats, Awaiting the Trump-Xi Meeting
The dollar traded lower against most of the other G10 currencies on Thursday and during the Asian morning Friday. It lost the most ground against the safe-havens CHF and JPY, while it gained only versus NOK, SEK and GBP.
Seeing in isolation, the fact that CHF and JPY were the best performing G10s suggests a risk-off trading activity. However, the risk-linked currencies AUD, NZD and CAD were also on the...
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