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Daily Markets Broadcast 2019-06-03

Daily Markets Broadcast

2019-06-03

Wall Street weakens on tariff war escalation

US indices are weaker in early trading this morning after a weekend escalation in the tariff spat. China laid the blame for the breakdown of talks on US President Trump, adding that it is willing to recommence negotiations, but will not be beaten into concessions. Trump potentially opened another trade war front with India by removing its developing nation status. Safe haven flows have accelerated, pushing 10-year US yields to a 2-year low.

 

US30USD Daily Chart

[1]

Source: OANDA fxTrade

 

DE30EUR Daily Chart

[2]

Source: OANDA fxTrade

 

XAU/USD Daily Chart

[3]

Source: OANDA fxTrade

 

 

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Andrew Robinson

Andrew Robinson [6]

Senior Market Analyst at MarketPulse [7]
A seasoned professional with more than 30 years’ experience in foreign exchange, interest rates and commodities, Andrew Robinson is a senior market analyst with OANDA, responsible for providing timely and relevant market commentary and live market analysis throughout the Asia-Pacific region. Having previously worked in Europe, since moving to Singapore he worked with several leading institutions including Bloomberg, Saxo Capital Markets and Informa Global Markets, proving FX strategies based on a combination of technical and fundamental analysis as well as market flow information. Andrew began his career as an FX dealer with NatWest and the Royal Bank of Scotland in the UK.
Andrew Robinson

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