Risk on: White House noise 'no ongoing talks about action on Amazon'

Ross J Burland FXStreet

Markest have reacted positively to a headline relating to the Amazon risk.

Recent headlines have told that Trump was looking at ways to increase Amazon's shipping costs and possibly even cancel some of Amazon's government contracts.

Trump: Amazon is going to need to pay a lot more for shipping.
Trump says U.S. Post office losing billions because it delivers packages for Amazon at a very low rate.
Trump says U.S. Is giving a subsidy to Amazon.

However, a recent rumour in the market has lead to a bounce in Amazon and thus pulling up Wall Street / USD/JPY where there is no action pending from the White House. Afterall, Trump's government is one of Amazon's biggest customers. According to CNN Money and in an article they stated that, "Amazon (AMZN), through its massive Amazon Web Services cloud computing division, has a deal with the government to provide cloud services to the CIA and other intelligence agencies. That deal was first awarded in 2013 and Amazon was said to have beat out IBM (IBM) for the business. It's a massive contract, worth a reported $600 million over 10 years." Note: (this deal originally took place during the Obama administration. However, there have been some upgrades to the deal since Trump took office).

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.