US dollarForex Today remains a little quiet with the same old stories surrounding trade and Brexit that negatively affect market’s risk-tone.
US Treasury Secretary earlier pressed the risk-off while showing a lack response from China while the dragon nation’s retaliation over the US State Department’s notice raised bars for any successful trade deal between the two global powers.
Further, Hong Kong issue is still on the table with the pro-democracy lawmakers calling the leader Carrier Lam to step down during the legislative session.
On the Brexit front, no major solution is yet out despite the European Union, French and German leaders’ optimism surrounding the deal.
Gold and Japanese Yen benefited from the safe-haven demand whereas WTI Crude Oil stays mostly unchanged around $53.00 amid geopolitical tension and higher than previous stockpile data from the American Petroleum Institute (API).
While the two-day-old EU Summit is in the spotlight, for now, UK Retail Sales, and the US housing/manufacturing data can offer intermediate moves to the market. It should also be noted that comments from the Federal Reserve policymakers up for publishing during the latter part of the day, will also be the key to follow. Furthermore, trade headlines now bear the burden of political tussle and will have larger impact in a case of positive surprises.