Forex Today: world still gyrating around the trade war
|Here is what you need to know Wednesday, October 9th:
- Plenty of headlines related to the US-China trade relationship kept investors on their toes, with safe-havens making the most out of it.
- During London trading hours, Trump’s administration announced it would blacklist 28 Chinese companies, while there were news indicating that the US government is looking to limit Chinese stocks’ holding within government pensions funds. By the end of the day, news made the rounds indicating that the US has imposed visa restrictions on Chinese officials for the treatment of Muslims in Xinjiang.
- Brexit negotiations collapsed after UK PM Boris Johnson and German Chancellor Angela Merkel had a phone call and were unable to find common ground about a possible solution to the Irish border issue. GBP/USD fell to 1.2200.
- Fed’s head Powell spoke late in the American afternoon and said there is no reason why the economic expansion can't continue, repeating that the US economy is facing some risks, but overall it is in a "good place."
- Majors seesawed between gains and losses, but remained within familiar levels, ahead of FOMC Meeting’s Minutes this Wednesday.
- Cryptocurrencies remained within recent lows. Action limited.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.