Sunday 26.08.2018 FX opening rates
Good evening, morning. I hope you all had a peaceful weekend.
The FX market opens a bitter better on risk, especially MXN with CAD following in the distance on a better Nafta outlook as per weekend news update below.
We’re kicking off with the German IFO on an otherwise quiet data session on UK’s bank holiday.
Tuesday should get more interesting for GBP traders as we’re having the Inflation report hearings. States’ wise , there will be July’s trade balance and consumer confidence numbers to spice up the market a bit, going crescendo after that with GDP’s and CPI’s later in the week.
I’m sure politicians and trade negotiators of all sorts will very willingly fill all the gaps in the meantime.
Have another good week in our company. Watch out for illiquid early hour moves.
Here’s the weekend press:
-Senator John McCain passes away age 81, giving up his battle against brain cancer.
–Conservative MPs will block no-deal Brexit, former minister says, FT .
-Irish foreign minister says no-deal Brexit “very, very unlikely”
-China says to agree with Britain to discuss top notch free trade deal after Brexit.
-BIS at Jackson Hole on the price of protectionism .
-Trump says trade deal with Mexico close . Mexico confirms bilateral trade close. Canada could take another week.
-US wants to speed up trade talks with EU .
-Abe confirms running for September LDP leadership vote.
-Germany’s debt level coming off on better growth.
-BOC Gov Poloz: gradual approach to monetary policy is appropriate amid the digital disruption. Our economies have begun to return to normal after the trauma of the global financial crisis. But the process of interest rate normalisation has been much more gradual than traditional models with embedded Taylor rules would advocate. Importantly, this approach does not mean keeping interest rates unchanged until inflation pressures emerge. That would virtually guarantee falling behind the inflation curve. The central risks that affect that balance are, on the one hand, the possibility that inflation could accelerate as we approach full capacity and, on the other hand, the possibility that digitalisation of the economy is boosting aggregate supply and holding inflation pressures at bay.
–Sweden Democrats continue to hover around the 20% nuisance mark in the pre 9th Sept election polls.
- #Canada #Employment report preview. - November 5, 2021
- Rotation, ROTATION! - November 24, 2020
- $CNH living on hopium? Big week for the Yuan this. - January 13, 2020
Good post to start the week off.
RIP McCain. From the outside a good one.