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Market Insight Commentary – Forex
Today's News Headlines
- The IAEA has said there is no indication that North Korea have not ended nuclear activities.
Market Insight Commentary – Indices
Market Recap
Yesterday was an interesting one, the US appeared to back down on auto tariffs at least for the interim – this created a positive sentiment as risk sentiment prevailed and we saw some US dollar selling.
There was also a little bit of optimism around Brexit as a press conference between Barnier and Raab pledged further talks and working towards a deal by October or November. This allowed both the EUR and GBP to gain over 100 pips. The majors look a little bit exhausted at this point and I wouldn’t be surprised to see some profit taking over the course of the day.
There is a bit of event risk today in the form of the FOMC minutes and I will probably focus my attention on European equity indices.
Important Economic Data Due Today
14:30 CAD Retail Sales
Consensus: – 0.1 %
Effect: Higher than expected is good for the CAD
16:30 USD Crude Oil Inventories
Consensus: – 1.6M
Effect: No consistent effect on the USD
20:00 USD FOMC meeting minutes
Consensus: None
Effect: More hawkish than expected is good for the USD
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