• US/Sino trade teams will consult in mid-September with a view for a meeting in Washington in early October.
  • USD/CHF is currently trading 0.26% higher and bouning of trend-line support. 

The announcement that trade talks are back on track as given the markets the extra fuel needed to recover with respect to risk appetite. Currencies, such as the Yn and CHF, would otherwise benefit from investment, but in such a case that a trade deal could eventually emerge from the protracted negotiations is pressuring them in Asia today. USD/CHF is currently trading 0.26% higher and bouning of trend-line support. 

Vice Premier Liu He who is the head Chinese trade negotiator has been reported to have spoken with Mnuchin and Lighthizer on Wednesday on a phone call and trade teams will consult in mid-September with a view for a meeting in Washington in early October.

Can the US/China finally make something happen?

However, it's hard to see a quick resolution considering the determination of Washington to stand firm on China when issues such as the violation of intellectual property rights, forced technology transfer and Chinese subsidies to state-owned enterprises have not been bridged - that is the sticking point and both nations are as stubborn as the other. Many observers expect China to wait it out to see if Trump loses the 2020 elections.

"In our view the escalation in trade tensions between the US and China is likely to cut around 0.6ppts from world growth through until 2021. This will have ramifications for risk appetite, risky assets and safe-haven demand,"

analysts at Rabobank argued. 

USD/CHF levels

USD/CHF

Overview
Today last price 0.9836
Today Daily Change 0.0028
Today Daily Change % 0.29
Today daily open 0.9808
 
Trends
Daily SMA20 0.9799
Daily SMA50 0.9834
Daily SMA100 0.9939
Daily SMA200 0.9951
Levels
Previous Daily High 0.9885
Previous Daily Low 0.9797
Previous Weekly High 0.9919
Previous Weekly Low 0.9714
Previous Monthly High 0.9976
Previous Monthly Low 0.9659
Daily Fibonacci 38.2% 0.9831
Daily Fibonacci 61.8% 0.9851
Daily Pivot Point S1 0.9775
Daily Pivot Point S2 0.9742
Daily Pivot Point S3 0.9687
Daily Pivot Point R1 0.9863
Daily Pivot Point R2 0.9918
Daily Pivot Point R3 0.9951

 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

AUD/USD declines below 0.6700 amid weak Aussie Retail Sales, China’s covid protests

AUD/USD declines below 0.6700 amid weak Aussie Retail Sales, China’s covid protests

AUD/USD is extending its decline below 0.6700, undermined by a resurgent safe-haven demand for the US Dollar amid a risk-off theme at the start of the week. China's covid protests and weak Australian Retail Sales add to the weight on the Aussie. 

AUDUSD News

EUR/USD tumbles toward 1.0300 amid risk aversion

EUR/USD tumbles toward 1.0300 amid risk aversion

EUR/USD is falling hard toward 1.0300 after kicking off the week’s trading with a downside gap, as the risk-off mood underpins the US Dollar’s demand during Monday’s Asian session. The downbeat comments from ECB  policymaker Makhlouf exert bearish pressure on the Euro. 

EUR/USD News

Gold snaps four-day uptrend below $1,750 as covid woes sour sentiment

Gold snaps four-day uptrend below $1,750 as covid woes sour sentiment

Gold price drops for the first time in five days while printing sizeable losses below $1,750 during early Monday. The yellow metal bears the burden of the market’s sour sentiment, amid intensifying Chinese covid woes, ahead of important data due later this week.

Gold News

Binance Coin: Two things need to happen for BNB to hit $450

Binance Coin: Two things need to happen for BNB to hit $450

Binance Coin price could be running out of gas to continue its massive rally. While the last five days have been exciting times for holders, the following days will need to be closely monitored. The threat of a downswing looms for BNB.

Read more

Week Ahead: Decisive week for the Dollar as PCE inflation and NFP reports coming up

Week Ahead: Decisive week for the Dollar as PCE inflation and NFP reports coming up

After the Thanksgiving downtime that generated some further weakness for the greenback, investors will be looking for fresh direction from the barrage of US economic data that will be dominating the agenda in the coming week.

Read more

Forex MAJORS

Cryptocurrencies

Signatures