USD Firms As Trump Opens New Trade War Front

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1. USD Firms As Trump Opens New Trade War Front

The USD 0.1 percent against key rivals in early Wednesday trading after the United States and Europe locked horns over tariffs in a fresh escalation of trade tensions. U.S. President Donald Trump threatened to impose tariffs on $11 billion worth of European Union products, heightening tensions over a long-running transatlantic Boeing subsidy dispute.*  

2. Gold Steady

Gold prices steadied above the key $1300 level on Wednesday as the dollar firmed slightly. The noble metal remained near a two-week peak hit in the previous session as equities slipped on concerns over global growth and trade tensions between the United States and Europe. There was some switch from equities to gold after U.S. President Donald Trump voiced his intention of imposing tariffs on imports from EU and as broader concerns on global economic slowdown spread after a report by the IMF. The International Monetary Fund warned Tuesday that the world economy is still slowing but added that growth is expected to recover next year unless “policy missteps” get in the way.*

3. EOS/USD Higher As Coinbase Pro Trading Kicks Off

EOS/USD uptrend price is still going strong, which may come as somewhat of a surprise to the masses.For most crypto markets, the bearish pressure is kicking in pretty quickly, whereas EOS is still going strong. EOS/USD was last seen trading 7.3% higher on Wednesday at $5.7780 as of 7:10 GMT.

4. Oil Edges Higher Amid Tightening Global Supply

Oil prices crept higher on Wednesday, supported by supply cuts by producer club OPEC and U.S. sanctions against oil exporters Iran and Venezuela, but restricted by expectations that an economic slowdown could soon dent fuel consumption. International benchmark Brent futures (CL_BRENT) were last at $70.75 per barrel, up 14 cents, or 0.2 from their last close. U.S. West Texas Intermediate (USOIL) crude oil futures were at $64.22  per barrel, up 24 cents, or 0.4 percent as of 7:10 GMT.**

5. GBP/USD Stable Ahead Of Key UK data and Brexit summit

The GBP/USD pair traded flat this morning, after noting some very moderate gains yesterday on a weaker USD. The sterling was last seen trading at $1.3070 as of 7:10 GMT. All eyes will now focus on the key UK macro news, EU Brexit summit and the FOMC minutes.


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*CNBC Apr 10, 2019 2:48 AM ET
**Reuters Apr 10, 2019 3:53 AM ET
***nulltx Apr 10, 2019 03:07 AM ET
***Investing Apr 10, 2019 06:13 AM ET
****FXStreet Apr 10, 2019 07:25 AM ET


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