A relative calm is still observed this week in the middle of Trump’s unk. Trump continued talking about how his administration was talking with China about commerce, even when Beijing denied the existence of negotiations. The spokesman for the Chinese Ministry of Commerce, He Yadong, said that ‘any report on the development of the conversations is unfounded’ and urged the US to ‘show sincerity’ if he wants to reach an agreement. The DXY was last seen at levels of 99.60, the FX analysts of OCCBC, Frances Cheung and Christopher Wong point out.
The bearish impulse in the daily chart fades
“On the other hand, we also share that the spokesman of the Ministry of Foreign Affairs, Guo Jiakun, said that China’s position on the tariff war initiated by the US is clear: we do not want Negotiation should stop threatening and coercing and filing a dialogue with China based on equality, respect and mutual benefit. “
“This morning, Bloomberg headlines reported that it was said that China would exempt some American tariff products as costs increase. You should not rule out the possibility that the narrative of de -escalated persists one more time and can help the coverage of shorts of the USD (especially against safe refugee proxies), after the fall of more than 10% (at a time) Wide of the USD could also see some Axjs under pressure in the interim, despite the conciliatory tone towards a truce/commercial agreement. “
“The bearish impulse in the daily graph faded while the RSI rose. Resistance in 100.10, levels of 100.80/101.20 (fibonacci setback of 23.6% of the peak to the 2025 valley, a mobile average of 21 days). Support in 99.10, levels of 98.60. In other places, we warn that the re -quilibrium flows of the USD can distort the price action in FX. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
