Forex Today: Markets skeptical about US-Sino trade truce and sterling suffers a hangover as talks continue


Here is what you need to know on Monday, October 14:

  • Markets are cautious regarding the US-Sino partial trade deal. The world's largest economy agreed on a "hand-shake" agreement which is yet to be written. It includes a Chinese commitment to buy agrifoods. The US will refrain from slapping new tariffs scheduled for Tuesday. However, levies set for mid-December are still on the cards. The safe-haven yen is recovering some of its losses and commodity currencies are on the back foot.
  • Brexit: Intense weekend talks have failed to result in an agreement. The UK prefers having Northern Ireland (NI) in two customs regimes while the EU prefers its original idea for keeping NI within the EU's customs union. GBP/USD is falling this morning after leaping on Thursday and on Friday. The Democratic Unionist Party (DUP) and some Brexit-supporters are wary that Prime Minister Boris Johnson conceded too much. Intense negotiations continue in Brussels ahead of the EU Summit beginning on Thursday. The UK parliament returns today with the Queen's Speech. 
  • The Turkish lira is under fresh pressure as the Kurds invited Assad's Syrian regime. Moreover, the EU and the US are considering sanctions on Turkey's following its incursion into northern Syria. Russia is also involved in trying to calm tensions.
  • Chinese trade figures have shown larger-than-expected drops in both exports and imports – adding to concerns about global growth. Trade with the US has fallen by double-digits.
  • The economic calendar is light today with holidays in Japan, Canada, and the US set to result in lower trading volume.
  • Cryptocurrencies are trading within the same ranges seen last week. Bitcoin hovers around $8,300. The Securities and Exchanges Commission (SEC) has sued Telegram for its crypto project.

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.

Feed news

Latest Forex News

Editors’ Picks

Dollar in trouble, EUR/USD recovers the 1.1000 level

The American currency came under selling pressure, although the EUR/USD pair is a laggard, barely above the 1.1000 figure. Trump´s impeachment process seems to be behind the latest slide.

EUR/USD News

GBP/USD approaches 1.2900 as the greenback eases

The GBP/USD pair is at fresh weekly highs in the 1.2880 region, as speculative interest moved away from the dollar, and in spite of poor UK data.

GBP/USD News

USD/JPY slumps to fresh 10-day lows near 108.30 on falling US T-bond yields

The USD/JPY pair came under renewed bearish pressure during the American tracing hours and slumped to its lowest level in ten days at 108.25 as the dismal market mood allowed the JPY to continue to gather strength against its rivals as a safe haven.

USD/JPY News

Gold: the $1,470 regions caps the upside

Prices of the precious metal keep the positive performance in the second half of the week, although the $1,470 region continues to cap the upside for the time being.

Gold News

Crypto bulls and bears meet at the crossroads

Cryptocurrencies are experiencing sharp falls among the main actors of the top-three cryptos by market capitalization. If in the past few days XRP was the top representative of fear, now red is also the color of Bitcoin and even Ethereum.

Read more

Forex MAJORS

Cryptocurrencies

Signatures