On Monday morning in Europe, the GBP/USD currency pair rallied sharply, retaking the key 1.3100 level. This strong increase signals a major strategic turn in the foreign exchange market. This development comes as we have been continually treated to dramatic near-daily headlines about the state of trade relations between the U.S. and China. These changes are attracting the interest of investors and analysts alike. As today’s market volatility clearly demonstrates, traders require an agile and trusted partner. This support is critical for effectively advancing during these uncertain times.
As the week unfolds, U.S.-China trade headlines remain at the forefront, particularly ahead of anticipated statements from Federal Reserve officials. Today’s climate is defined by a deadly trade war between the US and China. This conflict is driving a level of investor concern not seen since the pandemic’s early days. Optimistic risk appetite rocketed up on the back of former president Donald Trump’s tariff concession hawk-bagging trumpet. The U.S. Dollar has had a hard time getting going.
Supporting the GBP/USD pair’s advance so far is continued weakness in the U.S. Dollar. It is one of the few currency pairs that is rising sharply. Traders who maintain a sharp focus on the evolution of the markets will be rewarded with abundant opportunities.
EUR/USD is looking to consolidate on its recovery gains. As of the early morning in Europe on Monday, it is trading under the 1.1400 level. Traders are in a wait and see mode as this consolidation takes place. Thus, they’re scrutinizing bigger economic data trends and global geopolitical events that may impact currency values.
Beyond these currency moves, the cryptocurrency space overall continues to see exciting developments. As per Tokenomist, last week there were 15 altcoins scheduled to unlock more than $5 million each over the next seven days. Digital currencies are in the news more and more every day. Investors should proceed with caution and assess the possible pitfalls at play.
You should never invest more than you can afford, it is worth mentioning that neither the author of this article nor FXStreet are registered investment advisers. The material shown above should not be used or construed as investment advice. All readers are encouraged to supplement the information here with independent research and due diligence, and further to consult appropriate financial, legal, or other professional advisors.
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