Euro is dropping against the Dollar “like crazy,” giving them a big advantage…and the Fed does NOTHING!

The Euro is dropping against the Dollar “like crazy,” giving them a big export and manufacturing advantage…and the Fed does NOTHING! Our Dollar is now the strongest in history. Sounds good, doesn’t it? Except to those (manufacturers) that make product for sale outside the U.S. – President Trump.

US Dollar Finishing August on Firm Note as Euro nears Two-Year Lows

Asia Pacific
 
The yuan was stronger in the Asian session but has given back those gains in Europe.  The PBOC again (eighth session) set the dollar’s reference rate lower than the models the banks use suggested.  We do not read much into China’s restraint in not retaliating against the hike in previously announced tariffs.  The US has now admitted that Chinese officials did not call Trump to restart talks that were already underway. That was simply used to support the markets comes as no surprise to many.  New tariffs will go into effect on September 1.  The real signal seems to be not a de-escalation in the tensions but that a trade agreement between the two is unlikely any time soon.  Marc – to – Market.

TECHNICAL CHARTS – INTERESTING CHART PATTERNS

KEY POINTS

  • This Friday is Non-Farm- Payroll and market expects little or no-change to the data; market will consolidate the next few days till Friday.
  • Be cautious taking big positions as the market can move to both direction fast
  • Market expect some good pullback on the USD this week.

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