Sunday 21.10.2018 FX opening rates.
Welcome dear fellow traders and readers, I hope you had a peaceful and pleasant weekend.
The weekend was marked by Trump announcing pulling out of the US-Russian nuke pact.
-Britain could accept extending the post-Brexit transition period by a few months, Barnier about the backstop.
–London marchers call for new Brexit vote.
-Aussie ruling liberals take a hit in Wentworth by-elections.
-Italy sticks to the 2.4% budget deficit and expects to run into an EU rejection on Tuesday.
-Erdogan plans to speak about the reporter/Saudi situation on Tuesday.
-Some Japanese M&A news.
-Mnuchin doesn’t fear contagion from the Chinese slowdown.
-Thousands of Hondurans in U.S.-bound migrant caravan head into Mexico.
Despite the Trump, Italy, Ozzy and Brexit lines the market opens relatively quiet.
NZD had a pre e-commerce market open blip, I trust some smart cookies triggered weak stops through Friday’s highs.
It’s early doors and things can change fast in illiquid markets, possibly on risk from the Trump decision or for the EUR if the Italian standstill would cause a ripple or two on the bond side.
The data week starts very quiet but will go crescendo with ECB, BoC rate decisions and US’ GDP being the hottest non political plates to serve.
Stay safe and happy travels in our company .