Date: APRIL15, 2018
Daily World Economic and Financial News
(CNBC) APRIL15, 2018 ---- The dollar edged higher against the Japanese yen on Friday, as fading concerns about a possible Western military intervention in Syria helped boost risk appetite among investors. The dollar was 0.04percent higher against the yen. During the session it hit a seven-week high. The weakening of the safe-haven yen suggested investors were less worried after a week dominated by U.S.-China trade tensions and the possibility of a U.S.-led missile strike on Syria.
(CNBC) APRIL15, 2018 ---- The yen slipped even as S&P Global Ratings revised Japan's outlook to 'positive' from 'stable' on the view that a stronger economy set the stage for fiscal improvement.
(CNBC) APRIL15, 2018 ---- The greenback also edged higher against the Swiss franc. The Swiss and Japanese currencies are often sought in times of global tension partly because the countries have big current account surpluses. The dollar index, which measures the greenback against a basket of six major currencies, was little changed at 89.78.
(CNBC) APRIL15, 2018 ---- The Canadian dollar edged lower against its U.S. counterpart but was on track to advance more than 1 percent for the week as stocks rose and the United States weighed the prospect of rejoining the Trans Pacific Partnership (TPP) trade pact.
(CNBC) APRIL15, 2018 ---- Oil prices were higher on Friday, posting their largest weekly gain since July after U.S. President Donald Trump's comments about possible military action in Syria and reports of dwindling global oil stocks. U.S. West Texas Intermediate crude for May delivery ended Friday's session up 32 cents to $67.39 its best weekly performance since July. The contract earlier touched its highest intraday level since Dec. 4, 2014. Brent crude was up 58 cents at $72.60 a barrel by 2:26 p.m. ET and also set for a weekly gain of more than 8 percent going back to July.
(CNBC) APRIL15, 2018 ----Gold prices rose on Friday, heading for a second weekly gain on lingering uncertainty over Western military action in Syria. Spot gold was up 0.62 percent at $1,343.41 an ounce at 1:54 p.m. ET, set for a weekly gain of nearly 1 percent. U.S. gold futures for June delivery rose 0.34 percent to $1,346.50. U.S. President Donald Trump and his national security aides on Thursday discussed options on Syria, where he has threatened missile strikes in response to a suspected poison gas attack, as a Russian envoy voiced fears of wider conflict between Washington and Moscow.
(REUTERS) APRIL15, 2018 ----European shares rose in early deals on Monday as hopes that a full blown trade war between the United States and China could be averted spread across markets.
The pan European STOXX 600 had risen 0.3 percent by 0718 GMT, after closing in the red Friday when investors feared the trade dispute between the world’s two biggest economy could turn for the worst.
(EURONEWS) APRIL15, 2018 ----U.S. president Donald Trump is threatening a further 100 billion dollars' worth of tariffs on Chinese imports. The sanctions would be on top of the 50 billion dollars of tariffs imposed on Wednesday. In response to that, China threatened to impose increased import duties on 106 key US products. That retaliation, Trump says, was unfair, and that is why he has instructed officials to consider the further tariffs. But China says the US has picked the wrong target.
EUR/USD PAIR ANSALYSSI
The EUR/USD is trading around $1.2320, nearly balanced on the day. Dovish ECB comments countered weak US consumer sentiment. Syria, trade tensions, and the rising chance of rate hikes in the US are on markets' minds.
1. Technical Overview
The EUR/USD has no clear direction with the currently limited trading ranges. The pair clings to the 50-day Simple Moving Average while the RSI is marginally above 50 and Momentum is slightly negative. However, the broader picture shows lower lows and also lower highs, indicating a downtrend. Support awaits at the April 12th lows of $1.2300, also a round number. Further below, the March lows of $1.2240 and $1.2210 are next. Looking up, the April 11th swing high of $1.2395 caps the pair. It is followed by $1.2480 seen in late March and $1.2555 which is the three-year high.
International & Financial Terms
1. Tangible Assets: Assets that can be touched, physical objects.
2. Side Deal: A private deal between two people usually for the personal benefits.
3. Market Order: An instruction to a broker to make a transaction at the prevailing market price.
4. Excess Reserve: Higher reserve than required, held by banks.
5. Hidden Reserve: Funds held in reserve but not disclosed on the balance sheet.
Compiler: A Bank Dealing Room Section
Management of International Deputy The Expert In Charge Of Dealing Room