July 25, 2018 5:01 PM: U.S.-EU summit [From Mr. Rikio Shima's newsletter]
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As a key point of today's foreign exchange market, there is a US-EU leaders' summit scheduled for New York time. Here is how Shima-san views the talks between Jean-Claude Juncker, President of the European Commission, and President Donald Trump.
Please take a look at a portion of today’s newsletter from the investment email magazine “Shima Rikio’s Practical Real-Time Trades” provided by GogoJungle.
If the meeting between President Trump and President Juncker ends in failure, the United States is expected to impose a 20% tariff on imported cars from the EU.
Considering the U.S. midterm elections, imposing tariffs might boost support for Mr. Trump. In that sense, I think the probability of tariffs being imposed is higher, but how the market will react afterward is somewhat unclear. If that happens, I would expect the euro-dollar to fall, but the Trump administration would be unhappy with a decline in the euro-dollar.
The chart is the EUR/USD on the 1-hour timeframe. As European time begins, it is trading around 1.1680-1.1700. (Editorial staff)
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