Now: Dollar Surge, Tension Between US and China Escalating
Surge of Dollar return after the sentiment risk-aversion back to the market. Geopolitical arise as the news of the US House Speaker, Nancy Pelosi, visit to Taiwan. The tension escalated as Nancy Pelosi support the local government against the China movement and some action has been taken by China to show their retaliation.
The surge for USD continues later during the America trading session as the comment from the FED Official triggered more risk-aversion sentiment. One of the statements are from the Chicago Fed Official, Charles Evans, in which he stated that the current inflation pressure will increase the rate of the jobless to around 4.25% and the possibility of rate hike by 50-basis points this September.
03 August 2022