USD a bit faster, GBP a tad slow out of the starting blocks
Still early in the day but it feels the market is taking it cautiously at the start of the new week. Normal after such a week last.
Here’s some of the weekend press for your Sunday night or Monday morning for our Asian friends readings.
- Nafta negotiations are ongoing but we may be in for some can kicking as the auto deals and Sunset close still haven’t seen an agreement( they had a great breakfast though), can I be a negotiatior too?) and upcoming elections could slow the negotiations even more.
- Knot would like a clear end date to ECB’s APP but Draghi held the ball off, worried about the impact of such an announcement on the EURO.
- The German Union IG Metall calls for strikes this week. Worth keeping an eye on this if it starts to seriously hamper German production.
- Shulz seeks compromises with Merkel CSU and the harder lined(on immigration) Bavarian Seehofer when going back into talks from tonight.
- Japan and China want to tighten their relationship with South-Korea in the slipstream.
- Brexit is still there with its daily comments and opinions on how things should go but no real shockers over the weekend .
- The Independent relates may will be tough for May …
The week will go in crescendo on the economic data front , European CPI’s ,then FOMC and US labour reports to hit the markets end of this week for a final fireworks. Add a pinch of State of the Union and don’t forget US earnings season is also still in full swing.
But first this week we have the US PCE numbers and not to forget it’s month end folks. With its usual possible EURGBP buying by our German friends and based on Equity market moves we should again see some USD selling into Wednesday’s last day of the month.
So strap yourselves in,we’re going for another roller-coaster ride. Stay safe and happy hunting