President Trump says could delay auto tariffs

Published date: 15/05/2019

The wires have reported that the White House is considering delaying the tariffs on autos and this has led to a bump up in risk assets, including currencies.  The EUR was quick to react with a 30 tick bounce - not the biggest move seen - but relative to recent ranges is a notable reaction to the move.  

EUR/USD continues to hold modest support at 1.1177 and has jumped to 1.1220-25, but sellers have pounced on the move and are capping further gains for now.  

Cable clawed out lows below the 1.2830 support we noted earlier, but there is more demand to note into the 1.2800 area and just below.  

AUD has also been lifted, as has the CAD, though gains also seen in USD/JPY and some of the cross rates, which could react positively to what could be seen as a softening of stance from the US president.


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