FX News Today
- Stock markets remain supported by improving risk appetite, with investors hoping for progress in US-Sino trade talks.
- Japanese markets outperformed in catch up trade on returning from yesterday’s holiday and underpinned by a weaker Yen.
- US lawmakers have reached an “agreement in principle” on funding for border security that would stop a second government shutdown on Friday.
- Brexit concerns continue to linger.
- Comments from ECB’s Lane have underpinned speculation that Draghi will rule out another rate hike this year amid the expected downward revisions to growth forecasts.
- The front end WTI future is trading at USD 52.55 per barrel.
- EURUSD went sub-1.1300 for first time in 6 weeks on generally firmer Dollar.
- USDJPY rallied to 6-wk high of 110.64, underpinned by rally in global stocks.
Charts of the Day
Main Macro Events Today
- Deutsche Bundesbank President Jens Weidmann speech – German President Weidmann is due to deliver a speech titled “The Role of the Central Bank in a Modern Economy – a European Perspective” at the University of South Africa, in Pretoria.
- BoE Carney speech – Due to speak about the economic outlook and global trade tensions, in London.
- Fed Chair Powell speech – Due to deliver a speech titled “Economic Development in High Poverty Rural Communities” at the Hope Enterprise Corporation Rural Policy Forum, in Mississippi.
- Fed Mester and George speeches – Cleveland Fed hawk Mester will update the economic outlook and policy, while KC Fed hawk George will discuss “Charting America’s Economic Course.” Though both have been two of the most hawkish on the FOMC, each has recently indicated a pause is currently in order.
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