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In the Zone
- USDCAD
- Dax
Market Insight Commentary – Forex
Today's News Headlines
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- Donald Trump started early this morning with a twitter storm on the EU trade scenario – it all points to a trade war.
Market Insight Commentary – Indices
Market Recap
Donald Trump continues to make waves in world politics, it started early on Friday when he suggested that Russia should be reinstated as a member of the G7 – making it the G8 again. With the exception of Italy, the other European leaders were not keen on the idea and Japan were non-committal on the notion. The meetings were apparently cordial despite the looming trade war, the circus will gravitate towards Asia this week as the US meets with North Korea, I would expect a twitter fest from the Trump account this week.
The USDCAD continues to be my preferred pair to trade this week, the market moved on the back of weaker Canadian job numbers last week, although the wages are higher than they have been in almost a decade – go figure. The level around 1.3000 continues to be a hotbed for sellers to lean against and I suspect that we may see the same today.
It promises to be a tough week with a slew of big data and central bank meetings, throw in the start of the World Cup and also the North Korea and US summit to concentrate on.
Important Economic Data Due Today
10:30 GBP Manufacturing Production
Consensus: 0.3%
Effect: Actual higher than expected is good for the GBP
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