• Home
  • Analytics
  • Market News
  • European session review: USD and JPY appreciate as another flare-up in tensions between U.S. and China boosts demand for safe-haven currencies

Market news

22 May 2020

European session review: USD and JPY appreciate as another flare-up in tensions between U.S. and China boosts demand for safe-haven currencies

TimeCountryEventPeriodPrevious valueForecastActual
11:30EurozoneECB Monetary Policy Meeting Accounts    
12:30CanadaRetail Sales YoYMarch3% -8.4%
12:30CanadaRetail Sales, m/mMarch0.3%-10%-10%
12:30CanadaRetail Sales ex Autos, m/mMarch-15.6%-5%-0.4%


USD and JPY rose against other major currencies in the European session on Friday as fears of an escalation of tensions between Washington and Beijing heightened after China announced plans to strengthen control over Hong Kong with new security laws. The National People's Congress is expected to vote on the Hong Kong National Security Law on Thursday. The U.S. President Donald Trump stated the details of China's plan are not yet known but "if it happens we’ll address that issue very strongly.”

China’s move to tighten its grip on Hong Kong became another area of concern for the relationship between the world's two largest economies following the Trump administration’s criticism of Beijing's handling of the Covid-19 outbreak earlier this year. 

Open Forex Demo Account
I understand and accept the Privacy Policy and agree that my name and contact details can be used by TeleTrade to contact me about the information I have selected.
37 International Awards
Have a question?

We are ready to assist you in every step of your trading experience
by providing 24/5 multilingual customer support.

Follow us

Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.55% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.

© 2011-2020 TeleTrade-DJ International Consulting Ltd

TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.

Please read our full Terms of Use.

To maximise our visitors' browsing experience, TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. You may change your cookie consent or view our cookie declaration here.

TeleTrade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.55% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.