Forex Today: speculative interest turned cautious
|Here is what you need to know Tuesday, October 15th:
- Holidays in Japan, the US, and Canada kept most major pairs within familiar levels, although the greenback recovered some ground, amid decreasing optimism on the main two fronts, the US-China trade relationship and Brexit.
- US-China established a trade truce, although it’s still unclear whether or when the next round of tariffs will be applied. However, and after US President Trump announced the success of “phase 1” in a trade deal, investors remain mildly hopeful. China requested more talks next month before signing a deal.
- Brexit: reports suggested that EU representatives fear that Johnson won’t be able to pass Brexit in Parliament, while Ireland’s Foreign Minister Simon Coveney said that, while a deal is possible, though issues remain. Talks were making slow progress, according to politicians from both sides. Meanwhile, the queen offered a speech to Parliament, in which she stated that the government’s priority is to secure the UK’s departure from the EU on October 31st.
- Stocks posted modest intraday gains, with activity subdued amid the mentioned holiday. Crude oil prices edged lower.
- Safe-haven assets posted modest intraday gains but trimmed most of them ahead of the close.
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