Quote: "Washington Continues To Weigh On Markets" for FX:EURUSD by SwissView

Quote: "In the absence of any significant economic data releases during today’s Asian trading, the political drama surrounding President Trump continued to take central stage. The President fired his chief strategist Steve Bannon on Friday and in that way continued the string of staff shake up in the White House. The key event of this week will be the meeting of central bankers in Jackson Hole towards the end of the week."

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The latest FOREX news telling pricesly what is moving EURUSD. The ongoing political turmoil in Washington now is likely to kill "The Trump Trade". EURUSD likely to continue the upsidemomentum - confirmed by todays technical print (bull flag broken to the upside). A rising EURO should add shortterm massive pressure to all European stockmarkets. But same time the risks are rising. Donald J. Trump could be forced to be resign and if ever this might occur all markets will turn on a dime. To fast to left traders any chance to cover stockmarket short or EURUSD long trades.

Comment:

LONG Trade EURUSD was closed on July 25th:

EURO / European Stockmarkets: Reverse of Capital Flows Likely

Comment:

EURUSD: closed at anticipated resistance (wich not occurs) and re-opened after consolidation pattern:

Comment:

Markets expecting a cautious outlook, especially from the ECB:

Euro slips against dollar ahead of Jackson Hole

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Dollar wanes against euro, yen as U.S. tax-reform doubts resurface

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Yellen's Jackson Hole speech may not be as boring as the Fed hopes

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EURUSD: Short term more upside momentum likely

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EURUSD: Huge upside potential. Click on the chart to load more bars and comments.

EURUSD: Huge Upside Potential On Asymmetric GDP Growth

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GEOPOLITICS, TRUMP APPROVAL RATES:
Trump setting records for low presidential approval

Plunging into undesirably uncharted territory, Trump is setting records with his dismally low approval ratings

At 34 percent, his current approval rating is worse than former President Barack Obama's ever was

QUOTE: "Trump has defied the trends before. But if history is a guide, his numbers don't bode well. Low approval ratings hamper a president's ability to push an agenda through Congress and make it more likely the president's party will lose seats in Congress in the midterm elections."
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Quote: "Money flow: Investors pull billions from US stocks in longest outflow streak since 2004"
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Remark: Traders should remind the "lock up periode" for stock repurchase programs to start in 3-4 weeks from now. Stock buy backs may prevent right now US stockmarkets from more selling pressure. This is going to change within days by end of september if investors might continue to pull money out of US stockmarkets.

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Quote: "The report also pointed out the turn away from U.S. stocks coincided with the late June surge in the euro against the U.S. dollar to its strongest in nearly a year, after comments from European Central Bank President Mario Draghi suggested higher inflation and tighter monetary policy soon in the euro zone.

The euro subsequently climbed to its highest in more than two years in early August, and traded slightly below those levels near $1.186 Friday. Draghi is scheduled to speak later Friday afternoon at an annual meeting of central bankers in Jackson Hole, Wyoming."
Source: Link above

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Quote: "The report also pointed out the turn away from U.S. stocks coincided with the late June surge in the euro against the U.S. dollar to its strongest in nearly a year, after comments from European Central Bank President Mario Draghi suggested higher inflation and tighter monetary policy soon in the euro zone.

The euro subsequently climbed to its highest in more than two years in early August, and traded slightly below those levels near $1.186 Friday. Draghi is scheduled to speak later Friday afternoon at an annual meeting of central bankers in Jackson Hole, Wyoming."
Source: Link above

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GEOPOLITICS: Trump vs. Government shutdown vs. "The Wall" vs. Mexico
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Trump Repeats Making Mexico Pay for Wall as He Seeks Funding

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Remark: Not really difficult to understand that Trump is trying to deliver his widely promised "wall" - but no one is willing to pay for it. For US stockmarkets and the USD this more or less "funny issue" now is turning serious and negative.

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GEOPOLITICS: Trumps vs. "the Wall" vs. "China":

Trump reportedly demands China action: 'I want tariffs. And I want someone to bring me some tariffs'

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European shares hit two-week low as euro surges

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Dow futures open more than 100 points lower after North Korea fires missile over Japan

North Korea fired a missile over Japan, according to local media.
Japanese Prime Minister Shinzo Abe said the ballistic missile passed over the Tohoku region at the northern end of Japan.
Local government urged people living in the area to take refuge in solid buildings or underground shelters, NHK reported.

Comment:

EURUSD: Short term reversal pattern likely. Momentum to the upside could stop for a few days. European stockmarkets should benefit from this.