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In the Zone
- USDCAD
- USDJPY
- DAX
Market Insight Commentary – Forex
Today's News Headlines
- UK PM May lifted the lid when she reiterated that there was a lot of disagreement at the G7, I must say that I kind of understand both sides of the argument here – but I also know that nothing good will come if these countries can’t come together.
Market Insight Commentary – Indices
Market Recap
The weekend developments at the G7 meeting had little bearing on the London sessions, given that there was some rhetoric in the markets things could have get a lot worse. The trade war theme continues this week as Canadian Prime Minister Trudeau reiterated that he would retaliate with any US tariffs as the US continue to try and pile pressure on the their closest and most trusted ally. Trudeau seems to be a man with a long fuse but once it snaps, I get the impression that he could be a handful.
The USDCAD continues to find resistance any between 1.3000 and 1.3030, the pair also finds support at 1.2975 and this continues to be the range to play. The range will break at some point and the breaking news will be on any NAFTA deals – so keep an eye out as this is very much a fundamental trade at present.
The FX markets are tricky at the moment and I still seek opportunities in the indices, the next potential storm lies ahead in the US – North Korean summit today so let’s see how the markets react to these developments this morning.
Important Economic Data Due Today
10:30 GBP Average Earnings Index
Consensus: 2.5%
Effect: Actual higher than expected is good for the GBP
14:30 USD CPI
Consensus: 0.2%
Effect: Actual higher than expected is good for the USD
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