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In the Zone
- EURUSD
- USDCAD
Market Insight Commentary – Forex
Today's News Headlines
- There are still some issues to iron out in the NAFTA negotiations, but things are looking positive.
Market Insight Commentary – Indices
Market Recap
Throughout the day yesterday we saw the White House Administration send out economic teams to reiterate to the market that current status with China was merely negotiations – and not a trade war. Perhaps this undermines the tariffs, but in my opinion, China has called Trumps bluff and cements my opinion that the US cannot win a trade war.
The USDJPY is feeling the love as price rebounded by close on 100 pips, the commodity currencies also climbed after earlier losses. The USDCAD also had another great day on the back of more positive statements out of NAFTA.
The markets are pretty choppy at the moment and it is difficult to find momentum trades – it might just be one of those weeks.
Important Economic Data Due Today
10:30 GBP Services PMI
Consensus: 53.9
Effect: Actual higher than expected is good for the GBP
14:30 CAD Trade Balance
Consensus: -2.1B
Effect: Actual higher than expected is good for the CAD
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