Forex News 24

Forex News 24


Turn $1,000 into $1.57 Million – with "Holy Grail of Medicine"

Posted: 27 May 2019 12:02 PM PDT

Hits: 6



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Dear Investor,

On September 10, 2018, a tiny Cambridge biotech firm won a patent on a new kind of genetic software that can “Cut & Paste” any disease from your body.

This revolutionary new kind of treatment will not just change medicine —

It has the potential to eliminate genetic disease from our species.

If that sounds like science fiction, consider this:
  • The Nobel Prize Committee is calling it “The Holy Grail of Medicine”
  • The Wall Street Journal reports the company is “transforming medicine.”
  • 60 Minutes reports the company is “revolutionizing the search for new drugs.”
And the biggest drug companies have rushed to invest over a $1 billion in the past year alone —

Juno Pharma invested $700 million.

Glaxo SmithKline invested $350 million.

Johnson and Johnson invested $292 million.

That’s on top of the $120 million Bill Gates and Google Ventures already invested into this.

The list goes on and on…

Never before has so much money invested in a new treatment so quickly.

And because of that, it’s going to create more millionaires than any other single breakthrough in history. More than the internet, more than computers, more than cars.

Investor’s Business Daily estimates the market is worth at least $75 billion market.

But right now, its stock price is just a tiny fraction of that size.

That’s if the company doesn’t get taken over for fast 300% gains first.

Sincerely,

Dylan Jovine
Behind the Markets
“The Buck Stops Here”

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2019-05-27 17:40:00



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May 27, 2019 : GBP/USD Intraday technical analysis and trade recommendations.

Posted: 27 May 2019 11:31 AM PDT

Hits: 9


On March 29, a visit towards the price levels of 1.2980 (the lower limit of the newly-established bearish movement channel) could bring the GBPUSD pair again towards the upper limit of the minor bearish channel around (1.3160-1.3180).

Since then, Short-term outlook has turned into bearish with intermediate-term bearish targets projected towards 1.2900 and 1.2850.

On April 26, another bullish pullback was initiated towards 1.3000 (the same bottom of March 29) which has been breached to the upside until May 13 when a bearish Head and Shoulders pattern was demonstrated on the H4 chart with neckline located around 1.2980-1.3020.

Bearish persistence below 1.2980 enhanced further bearish decline.

Initial bearish Targets were already reached around 1.2900-1.2870 (the backside of the broken channel) which failed to provide any bullish support for the pair.

Further bearish decline was demonstrated towards the lower limit of the long-term channel around (1.2700-1.2650).

The GBPUSD pair looks oversold around the current price levels (1.2650-1.2700). That’s why, SELL signals shouldn’t be considered at such low prices.

On the other hand, bullish persistence above 1.2690 and 1.2750 is needed to enhance the bullish side of the market towards 1.2870 (Bottom of April 26).

Trade Recommendations:

Conservative traders should wait for another bullish pullback towards 1.2870-1.2905 (newly-established supply zone) to look for valid sell entries. S/L should be placed above 1.2950.

Counter-trend traders can consider the recent bullish breakout above 1.2690-1.2700 as a signal to look for a valid BUY entry around the current price levels. T/P level to be located around 1.2750 and 1.2820. S/L to be located below 1.2640.

The material has been provided by InstaForex Company – www.instaforex.com
2019-05-27 17:19:04



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Vertex Conqueror: Bitcoin is growing steadily, exceeding the annual maximum

Posted: 27 May 2019 09:18 AM PDT

Hits: 15


On Monday, May 27, cryptocurrency number 1 demonstrates steady growth, coming close to the mark of $9000. The Bitcoin rate has reached $ 8755.10 and analysts say that it is ready to continue moving.

According to the observations of experts, the leading digital currency has risen by almost 140%since the beginning of 2019 and reached a maximum level since May 2018. Experts believed that the current breakthrough is the latest news confirming the growing interest of a number of large companies in virtual assets. According to the estimates of cryptocurrency experts, the global digital currency market has good potential both in the short and long term.

However, many investors were slow to remember the recent collapse of the virtual asset market. Recalling that the volume of transactions on it lags behind the pace of price increases, they considered this market “overheated”. Some analysts believe that the current rise will soon be followed by a recession. At the same time, about 15% of experts declared a decline in the cryptocurrency market, while supporters of its growth are about 45%. Optimistic analysts predicted a rise in the price of Bitcoin to the $9,550 mark. In analyzing the value of cryptocurrency number 1 in the medium term, the number of positive experts rose to 70%.

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The material has been provided by InstaForex Company – www.instaforex.com
2019-05-27 14:36:57



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Trade Wars, Brexit and Risk Trends Threaten Volatility

Posted: 27 May 2019 08:37 AM PDT

Hits: 17


Weekly Trading Forecast: Trade Wars, Brexit and Risk Trends Threaten Volatility

GBPUSD Rate Outlook Mired by Renewed Threat of ‘Hard Brexit’

The Brexit negotiations may continue to drag on GBP/USD as Prime Minister Theresa May struggles to secure a deal.

US Dollar May Hold Up Despite Swelling Fed Rate Cut Bets

The US Dollar may hold up and even make progress upward despite building Fed rate cut bets as the severity of risk aversion boosts the appeal of its unrivaled liquidity.

Gold Prices May Rise if USD Sinks, US Data Fuels Fed Rate Cut Bets

Gold prices may capitalize on disappointing US data in the week ahead, but in the medium-term, the highly-liquid US Dollar may subdue XAU/USD gains on US-China trade war fears.

Euro Cringes Ahead of EU Trade Talks, European Election Results

The Euro may have a tumultuous week ahead after the European election results are announced along with candidates for key positions in EU institutions amid high-level trade talks.

S&P 500, DAX 30 and FTSE 100 Fundamental Forecast

The S&P 500, DAX 30 and FTSE 100 fell under renewed pressure from the US-China trade war last week, but the week ahead could see investor concern shift to global growth



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Dow Holds Back from Trend Reversal, Euro and Pound Pulsating

Posted: 27 May 2019 08:11 AM PDT

Hits: 8


Weekly Technical Forecast: Dow Holds Back from Trend Reversal, Euro and Pound Pulsating

While volatility readings are still remarkably restrained, we are seeing a host of critical markets pressuring or overtaking key technical levels. Whether the Dow's eyeing 25,200, the Sterling on the verge of reversing its longest tumble on record or looking to leverage its biggest single-day loss of 2019, there is remarkable technical risk and opportunity in our markets.

Gold Price Weekly Outlook – Looking to Break a Tightening Range

Gold is trapped in a short-term range and price action is building for a potential breakout next week.

EUR/USD, EUR/NZD Chart Outlook Bearish with EUR./JPY Bottoming

EUR/USD and EUR/NZD may find themselves aiming lower in the medium-term as the Euro depreciates. Against the Japanese Yen, EUR/JPY is facing key support and bullish reversal warnings.

Dow Jones, FTSE 100, DAX Technical Forecast

The Dow Jones is on course for its longest weekly losing streak in 8-years, while losses in the FTSE 100 is eased by the drop in the Pound.

Pound Collapse Building Pressure for Reversal or Mere Liquidity Pause?

After a near-relentless dive from the British Pound these past three weeks, there was a break in the clouds Friday with a Sterling bounce on the same day the Prime Minister announced her resignation. Is this the first step for a reversal?

Oil Weekly Price Outlook: Crude Collapses as WTI Searches for Support

Crude prices posted an outside weekly reversal off the monthly highs and risk further losses into the May close. These are the levels that matter on the WTI weekly chart.

US Dollar Forecast: Can Volatility Rise Alongside Trade Weighted USD?

A sharp turn lower in the US Dollar may provide a short reprieve to the strangling of a strong US Dollar on the global economy, but the long-term trends continue to favor a stronger US Dollar Index.

2019-05-27 14:00:00

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Gold Prices at 3-Month Trend Resistance, Trade War News in Focus

Posted: 27 May 2019 04:11 AM PDT

Hits: 12


GOLD & CRUDE OIL TALKING POINTS:

  • Gold prices stall at three-month resistance despite US Dollar weakness
  • Crude oil prices stalling at chart support below $58/bbl figure on WTI
  • Trade war escalation risk eyed on Trump/Abe, EU ministers' meetings

Gold prices mostly idled Friday despite a weaker US Dollar, consolidating the highs of the prior day's spirited advance unable to muster substantive follow-through. Crude oil prices edged up a bit in what looked to reflect a broader retracement across sentiment-geared assets following Thursday's dramatic selloff.

GLOBAL TRADE WAR ESCALATION RISK IN FOCUS

Looking ahead, holiday trading closures in the UK and the US might make for a quiet start to the trading week. The much-anticipated European Parliament elections seem to have passed without incident, at least for now. News-flow informing global trade war escalation fears may yet trigger knee-jerk volatility however.

US President Trump is visiting Japan to discuss a range of issues including bilateral trade relations with Prime Minister Abe. Meanwhile, a meeting of EU trade ministers will address upcoming negotiations with the US on industrial tariffs and a still-possible levy on auto imports.

While no major policy announcements are expected from either meeting, the tone of outgoing commentary might inspire a response. If they portend greater scope for cross-border tensions, gold may edge higher as crude oil weakens in risk-off trade.

Did we get it right with our crude oil and gold forecasts? Get them here to find out!

GOLD TECHNICAL ANALYSIS

Gold prices are probing resistance guiding them lower since late February. A daily close above its outer layer – now at 1297.13 – likely neutralizes near-term selling pressure and exposes the 1303.70-09.12 congestion region. Alternatively, a daily close below the 1260.80-63.76 zone may signal a bearish trend change, opening the door for a test of 1235.11-38.00 next.

CRUDE OIL TECHNICAL ANALYSIS

Crude oil prices paused to digest losses at support in the 57.24-88 area. A further push lower from here sees the next downside hurdle in the 55.37-75 zone. Alternatively, a daily close back above the 60.39-95 region brings the dense 63.59-67.03 resistance block back into focus.

Crude oil price chart - daily

COMMODITY TRADING RESOURCES

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

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The euro is consolidating, while the pound is trying to resume growth

Posted: 27 May 2019 03:27 AM PDT

Hits: 5


The trade war between the United States and China is moving into the phase of using heavy weapons. The pressure on Huawei has increased many times; suppliers of Intel Corp. chips, Qualcomm Inc., are connecting to blocking cooperation with the Chinese digital giant and Broadcom Inc., Google has imposed a ban on the use of software products, and moreover, there are threats to expand the list of technological giants of China, which will be denied access to the markets of the United States and its allies.

There is no doubt that a large-scale and mutually beneficial trade deal between the United States and China is impossible. Any decision will be temporary, since the US insists on nothing less than changing China’s economic policy and rejecting the role of technology leader, which is completely unacceptable for China. Violations of the WTO rules, which are used by the United States, may induce the Chinese government to reduce purchases of US government bonds or to limit the supply of rare earth metals to US companies, which will put them at risk of stopping production.

So far, Trump’s aggressive policy does not bring any visible dividends to the US economy. Business activity in the manufacturing and services sectors declined markedly in May, and the volume of new orders completely updated the 9-year minimum.

The trend is confirmed by other sources. Orders for durable goods, reflecting the level of industrial enterprises and consumer pressure, declined in April by 2.1%, which turned out to be worse than expected. There is also a slowdown in sales of new homes. The forecast for GDP growth from the Atlanta Fed for the 2nd quarter is still at the level of 1.3%, while the forecast from the Philadelphia Fed is lowered.

Panic has not yet covered the markets, but it is precisely this. Markets in Europe opened on Monday with growth, partly because of Trump’s easing rhetoric, but panic will inevitably increase in the coming weeks, leading to a reversal of stock indices to the south and increased demand for defensive assets.

EURUSD

The euro has few chances to resume growth on Monday. PMI indices in May both in Germany and in the eurozone were generally worse than expected. Ifo’s optimism indexes, which showed a decline in most indicators, correlate with them, and the first results of the European Parliament elections show an increase in the popularity of the right, which will increase the centrifugal sentiment in the eurozone.

The possible growth of EURUSD is limited by the 1.1220 / 25 zone and may trigger a new wave of sales, more likely a slow decline towards the support of 1.1110 / 20 and consolidation for a break down.

GBPUSD

Theresa May made an official statement in which she confirmed her intention to resign as the leader of the Conservative Party from June 7, 2019. Already on June 10, the conservatives launch the process of choosing a new leader, the name of the successor to May will be known before the summer holidays of parliament, July 20.

This resignation is a consequence of the inner-party struggle. May remains in the post of prime minister and will fulfill her duties for some time, at least until the end of the procedure for electing a new leader.

The pound responded with a slight increase. Apparently, the markets do not know how to react to the resignation of May. Nevertheless, they assume that the new leader will be able to reduce the uncertainty, which is generally regarded as a positive factor.

However, the pound received support earlier than May announced its resignation. The volume of retail sales in April did not change relative to March, while a decline was predicted, a year-on-year growth of 5.2%, which is also higher than forecast, and this figure is one of the highest in Europe.

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Growth rates are on maximum since the summer of 2018. Against the background of reduced investment, retail remains one of the main factors of still high inflation, which gives the pound a chance for a quick recovery if Brexit uncertainty decreases.

It is a bank holiday in the UK this Monday. Thus, increased volatility is possible in the thin market, but in general, strong movements are not expected. The lack of macroeconomic news shifts the focus to political factors which are now expected to be in favor of the pound. GBPUSD has formed a temporary base in the 1.26 area. Thus, on Monday, growth is possible to resistance at 1.2770 / 90. After which, a consolidation is expected in anticipation of new data.

The material has been provided by InstaForex Company – www.instaforex.com
2019-05-27 09:49:51



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NOK, SEK May Feel Pain From EU Elections, Trade Talks, US GDP

Posted: 27 May 2019 02:02 AM PDT

Hits: 17


NORDIC FX, NOK, SEK WEEKLY OUTLOOK

  • Unfolding European politics may disrupt regional markets and hurt confidence
  • EU trade talks will be closely watched after Trump delays tariffs on auto imports
  • Sweden GDP, US economic data will also likely shake Nordic financial markets

See our free guide to learn how to use economic news in your trading strategy!

NOK and SEK are in for a potentially volatile week ahead as the European Union concludes its parliamentary elections. Freshly-admitted lawmakers with eurosceptic leanings will weigh in on appointing new heads of key European institutions while EU leaders discuss cross-Atlantic trade talks and the future of commerce with the US. Economic data from the latter will also have a role in compounding market volatility in an already-uptight week.

US ECONOMIC DATA: VOLATILITY AHEAD OF GDP, INFLATION DATA, US JAPAN TRADE NEGOTIATIONS

Global financial markets will be closely watching the US economic data docket this week. Some of the major indicators to look out for include US GDP and core CPI. The latter is particularly important after the Fed's neutral pivot at the April 30-May 1 FOMC meeting. Fed Chairman Jerome Powell stated that the temporary lull in inflation was "transitory" and hinted that a pick up in price growth could prompt officials to become more hawkish.

May 28, Tuesday: Consumer Confidence (MAY)

May 30, Thursday: GDP, Advanced Goods Trade Balance

May 31, Friday: PCE Core (YoY) (APR)

Ever since the global outlook has become more uncertain, most central banks in developed economies have halted their rate hike cycle. One of the only exceptions to this trend is the Norges Bank, though they too may soon succumb to the pressure of their peers.

The Fed can afford a patient wait-and-see mode approach to policy because underlying inflationary conditions remain broadly symmetrical and do not warrant a cut or hike. This is why the PCE core price growth report and GDP data will carry that much more weight: it has the potential to tilt the Fed's neutrality toward a more dovish or hawkish outlook.

US President Donald Trump will be discussing bilateral trade negotiations and foreign policy in Japan with Prime Minister Shinzo Abe until May 28. This follows discussions that occurred earlier this year when officials from Tokyo visited Washington in an attempt to stave off a US-Japan trade conflict. Monitoring these trade talks will be prudent because of the potential volatility it can induce if negotiations go south.

EUROPEAN POLITICAL RISKS MOUNTING: EU ELECTIONS, TRADE TALKS

The European parliamentary elections have concluded, and while initially there appeared to be a mild reaction from local markets – in part due to thin liquidity from holidays in the UK and the US – there still is scope for volatility. Later today, EU trade ministers will be discussing future commerce relations with the US after cross-Atlantic relations soured from the White House's campaign to redesign the global trading paradigm.

EURUSD – Daily Chart

On May 28, freshly-admitted lawmakers in the new European Parliament will be discussing prospective candidates to lead key European institutions. These include the ECB, the European Commission and the European Council. This may be where the ideological dissimilarity between the various parties within parliament will become apparent and could lead to volatility in the Euro.

Economic data throughout the week may also spark some higher-than-usual price action in the Euro. Here are some reports to look out for:

May 29, Wednesday: Italian Consumer, Manufacturing Confidence. French GDP, CPI. German Unemployment Data

May 31, Friday: Italian GDP, CPI

NORDIC OUTLOOK: SWEDEN GDP, NORWAY UNEMPLOYMENT

In Sweden, the economic docket is packed with volatility-inducing data in the early-middle part of the week:

May 28, Tuesday: Financial Stability Report, Retail Sales, Consumer and Manufacturing Confidence

May 29, Wednesday: GDP

Considering economic data has been tending to underperform relative to economists' expectations, Swedish data will likely fall in-line with this trend. This would only reinforce the Riksbank's already dovish stance and would likely force central bank policymakers to hold rates at -0.25 percent. The paradigm of negative rates will only increase the risk of rising household indebtedness because the cost to borrow capital is so low.

In Norway, the economic docket remains relatively light. Here are some Norway-based event risks that could jolt the Krone:

May 28, Tuesday: Consumer Confidence

May 29, Wednesday: Norges Bank Governor Oystein Olsen Speaks in Stavanger

May 31, Friday: Unemployment Rate

However, most of NOK's price action will likely be from shifts in global sentiment from external risks ranging from European politics to US trade relations with China and the EU. Norway's economy strongly relies on the petroleum sector, and as such, the Krone is sensitive to changes in global sentiment. To learn more about trading SEK and NOK, you may follow me on Twitter @ZabelinDimitri.

SWEDISH KRONA, NORWEGIAN KRONE TRADING RESOURCES

— Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

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2019-05-27 09:00:00

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US China Trade War Worries Drive Asia Markets, Japan In Focus Too

Posted: 27 May 2019 12:16 AM PDT

Hits: 8


Asian Market Talking Points:

  • Stocks put in a mixed performance
  • Donald Trump's Japan visit reminded investors that China is far from alone in the US trade in-tray
  • The Euro held up well despite tumultuous European Parliamentary elections

Join our analysts for live, interactive coverage of all major economic data at the DailyFX Webinars. We'd love to have you along.

Asian stock markets started the week in mixed fashion with focus once again on US trade relations with its major partners.

China for once took a back seat with President Donald Trump in Japan for a state visit. Asia's second-largest economy is another persistent trade-surplus nation on the White House's sights. So far the visit seems to have been long on set-piece bilateral bonhomie with Trump suggesting that Tokyo and Washington were getting close to a deal which could address the US/Japan trade deficit which ran at $56.8 billion in 2018.

Still, the US has threatened tariffs against Japanese car makers and, as with China, there seems to be little expectation that a substantive pact will be inked anytime soon. Trump did say on Monday that he expects a deal with both China and Japan 'sometime in the future.'

Mainboards in Japan and Shanghai were both higher as their Monday closes approached with stocks in Australia, South Korea and Hong Kong all modestly lower.

European Parliamentary elections offered the prospect of a more fragmented Parliament. Nationalists made strong gains in places while centrists held on better than they'd been expected to in others. Britain's one-issue Brexit party had a stellar crop of seats, with punishment handed out by voters to both the ruling Conservatives and biggest opposition party Labour.

Still, the Euro held up pretty well despite it all. For sure EUR/USD remains well within the long downtrend which has marked the retreat from October 2018's highs.

But it is notable that even given all of the current uncertainty around Europe, last April's lows are still holding the bulls in check.

The two major Western forex centers of New York and London will both be out of the game Monday for holidays, which may well explain the relative market calm.

Bitcoin was less calm, rising to its highs for 2019 and dragging up many other crypto units with it.

This week doesn't offer a huge amount in the way of scheduled economic data likely to move markets which will probably keep investor focus on the twin themes of trade and European politics. Growth numbers are due from both the US and Canada, as is official Purchasing Managers Index data from China. All of these have the potential to see risk appetite and markets move, but they are probably the only three releases which do.

Resources for Traders

Whether you're new to trading or an old hand DailyFX has plenty of resources to help you. There's our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There's also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they're all free.

— Written by David Cottle, DailyFX Research

Follow David on Twitter@DavidCottleFX or use the Comments section below to get in touch!

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PHP Ready to Gain as USD Falls with Crude Oil? ASEAN FX Eye US Data

Posted: 26 May 2019 10:14 PM PDT

Hits: 11


ASEAN Fundamental Outlook

  • US Dollar fades on soft PMI data, with Philippine Peso also gaining on oil declines
  • Chinese Manufacturing PMI next, with sentiment-linked FX eyeing US-China talks
  • More dismal US data may sink Greenback, USD/PHP may also fall with crude oil

Trade all the major global economic data live and interactive at the DailyFX Webinars. We'd love to have you along.

US Dollar and ASEAN FX Recap

The US Dollar succumbed to selling pressure this past week, weighed down by increased expectations that the Federal Reserve could deliver a cut this year. Disappointing US Manufacturing PMI data helped drive this dynamic, pointing to the weakest expansion in a decade. As a result, most ASEAN currencies outperformed against the Greenback this past week.

The Philippine Peso easily took the top spot, also benefiting from a drop in crude oil prices as anticipated. USD/PHP tends to have a close relationship to the commodity given that it is a key import for the nation and aggressive gains in oil last year helped to fuel a selloff in PHP. Meanwhile, the Singapore Dollar also performed well as it tends to closely follow DXY.

Softer-than-expected Malaysian CPI data (0.2% versus 0.4% y/y anticipated in April) may have held back the Malaysian Ringgit this past week after the central bank recently cut rates to bolster economic activity. USD/IDR fell on the other hand as the Bank of Indonesia reiterated that it will remain in the market to stabilize the Rupiah.

Week Ahead: Chinese PMIs in the Context of Trade Wars

The regional ASEAN economic calendar docket is relatively thin, with the top-tier event-risk nearby from China where we will get Manufacturing PMI data. China's manufacturing sector could be looking at contraction (49.9 expected) after two months of expansion. Lately, local data has been tending to underperform relative to economists' expectations, opening the door to a downside surprise.

This comes after US-China trade wars have seen an escalation. The former nation has imposed a higher tariff rate of 25% on about $200b in Chinese imports while threatening to potentially add an extra $325b on top of that. China has retaliated, imposing about $60b in levies on the US. This is arguably why stock market volatility risk has been elevated as of late and it leaves some ASEAN currencies at risk.

Chinese newspapers have stepped up efforts to criticize the US for the stall in negotiations, and market sentiment can easily sour if talks take a turn for the worse. Malaysia, Singapore, the Philippines and Indonesia all have key trading relationship with the world's second-largest economy. Blowback can make its way into their economies, and soft Chinese data can amplify global growth concerns.

US Data on Tap

Despite this, there is the possibility that the US Dollar could depreciate in the week ahead, offering the Singapore Dollar more room to rally. This is because we have a slew of data due: consumer confidence, GDP and core PCE (the Fed's preferred measure of inflation). As in China, US economic data has been tending to underperform relative to expectations.

If this trend continues, we may see declines in USD/IDR and USD/MYR. Sentiment-linked crude oil prices are also vulnerable to trade wars, and USD/PHP may again benefit from that and a weaker Greenback. For more timely updates on ASEAN currencies and the impact of US-China trade wars on them, you can follow me on Twitter @ddubrovskyFX.

FX Trading Resources

— Written by Daniel Dubrovsky, Junior Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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2019-05-27 05:00:00

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