12September
Yen Falls as Trump Delays China Tariffs

The Japanese yen slipped on Thursday following positive signs on the US-China trade development improved investor sentiment.

That made the USD/JPY pair to rise by 0.2% to 108.03.

The US President said that the tariff on Chinese goods would be delayed by two weeks after China exempted a range of US goods from its taxes.

Following that news, Asian stocks traded mostly higher.

Meanwhile, the Chinese yuan gained against the US dollar as the USD/CNY pair fell by 0.3% to 7.0889.

In focus, today is the upcoming meeting of the European Central Bank, where markets expect the central bank to cut rates and provide more support for the economy.

Moreover, the US Dollar Index was unchanged at 98.650.

Crypto Continues To Drop

The price of the major cryptocurrencies fell on Thursday.

This morning, Bitcoin rose by 0.2% to $10,088.00. However, Ethereum and XRP dropped by 0.7% and 0.8% respectively. Similarly, Litecoin went down by 1.0%.

According to a senior analyst of DTAP Capital if the Federal Reserve significantly lower interest rates, it will benefit Bitcoin.

Moreover, he suggested that the negative rates proposed by Donald Trump would encourage people to spend their cash.

Crude Oil Futures Increased

Crude oil futures rose during early morning trades today.

On the New York Mercantile Exchange, Crude oil futures for October delivery went up by 0.84% to $56.22 per barrel.

Earlier, the barrel traded during a bullish dollar session and found support at $54.83 and resistance at $58.76.

Elsewhere on ICE, Brent oil for delivery in November rose by 0.67% to trade at $61.22 a barrel.

Financial Events to watch for today

11:45 GMT
ECB Interest Rate Decision (Sep) [EU]