What's on with the trade war?
"Chinese officials have remained conspicuously silent and dignified, during the social media onslaught the country has experienced from President Trump, over recent weekends. Trump took to his preferred method of communication (Twitter) on Sunday, to once again threaten China’s economy, with increased tariffs of 25%, on all Chinese imports into the USA. Chinese officials finally broke their silence to list a series of USA imports that would endure reciprocal tariffs. Analysts, traders and investors took this final retaliation as evidence that there is little expectation for a compromise and consensus to be reached, over the short term. Therefore, market participants are beginning to price in the damage a trade war will cost, on the basis that no one wins in a trade war. XAU/USD traded up 1.11% breaching the three levels of resistance, as price breached the 1,300 handle, for the first time since April 12-13th. In a classic, text book, illustration of risk off trading, yen attracted save haven bids from investors looking for refuge from falling markets, particularly from the slumping Asian equity markets. JPY recorded significant gains on the day versus all its major peers, especially: GBP, EUR, CHF, AUD and USD. The major pair USD/JPY continued its recent fall, maintaining position below the 110.0 handle at 109.23 down -0.57%, a low not printed since early February, as price fell to S3, before recovering marginally towards the end of the New York trading session. Similar patterns of yen price action was experienced by all currencies, were JPY was the counter currency of the pair. The Swiss franc also attracted safe haven investing, at 20:45pm U.K. time EUR/CHF traded down -0.54% at 1.130, as the bearish price action saw price crash through the three levels of support. USD/CHF experienced a similar pattern of price action behaviour, falling by -0.52% to reach 1.006, trading down -1.13% weekly, as the appeal of the Swissie has increased over the past trading week."
"Chinese officials have remained conspicuously silent and dignified, during the social media onslaught the country has experienced from President Trump, over recent weekends. Trump took to his preferred method of communication (Twitter) on Sunday, to once again threaten China’s economy, with increased tariffs of 25%, on all Chinese imports into the USA. Chinese officials finally broke their silence to list a series of USA imports that would endure reciprocal tariffs. Analysts, traders and investors took this final retaliation as evidence that there is little expectation for a compromise and consensus to be reached, over the short term. Therefore, market participants are beginning to price in the damage a trade war will cost, on the basis that no one wins in a trade war. XAU/USD traded up 1.11% breaching the three levels of resistance, as price breached the 1,300 handle, for the first time since April 12-13th. In a classic, text book, illustration of risk off trading, yen attracted save haven bids from investors looking for refuge from falling markets, particularly from the slumping Asian equity markets. JPY recorded significant gains on the day versus all its major peers, especially: GBP, EUR, CHF, AUD and USD. The major pair USD/JPY continued its recent fall, maintaining position below the 110.0 handle at 109.23 down -0.57%, a low not printed since early February, as price fell to S3, before recovering marginally towards the end of the New York trading session. Similar patterns of yen price action was experienced by all currencies, were JPY was the counter currency of the pair. The Swiss franc also attracted safe haven investing, at 20:45pm U.K. time EUR/CHF traded down -0.54% at 1.130, as the bearish price action saw price crash through the three levels of support. USD/CHF experienced a similar pattern of price action behaviour, falling by -0.52% to reach 1.006, trading down -1.13% weekly, as the appeal of the Swissie has increased over the past trading week."
Per aspera ad astra 
