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Market Insight Commentary – Forex
Today's News Headlines
- News out of the White House is that there is some headway being made with trade deals between the US and Mexico, I wonder what this means for Canada.
Market Insight Commentary – Indices
Market Recap
The Canadian inflation data was the only economic data read on the calendar on Friday, and it was a hot one – it come in at 3.0% versus 2.5%, and it didn’t all come from energy. This led the USDCAD to trade to as low as 1.3075 immediately after the number, the pair did find some support but it eventually closed to a low of 1.3050.
News of a summit between Trump and Xi as both China and the US look to resolve their differences in November led to a slightly better tone and this allowed the major pairs to make some inroads against the USD. The EURUSD used the headlines to lift themselves off the floor to trade as high as 1.1435, the 1.1500 handle will be a tough level to break this coming week.
The market will be focused on any NAFTA agreement as well as the start of the Jackson Hole Symposium which could spark the markets into life this week.
Important Economic Data Due Today
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