GDP tracker from the New York Fed The New York Fed lowered its GDP tracker. Next week we finally get hard data on Q3 GDP with the preliminary GDP release. “Negative surprises from retail sales data and housing data accounted for most of the decrease,” the report said.
Canada releases budget report Ok, so the 2016-17 deficit was coincidentally revised higher to the exact level of this year’s deficit. Something that will allow the government to say the deficit hasn’t been rising. And I’m supposed to believe that’s not manipulated?
Bounce from the bottom continues The kiwi is the top performer today while the yen lags. This is the classic pair for the risk trade, although I’d argue that’s a dangerous way to look at it given the housing fears in New Zealand and flat interest rate profile for the foreseeable future.
Come to the Finance Magnates London Summit Let’s meet up in London. Register for free here . Attention London FX and crypto traders. I’m going to be in London on November 14 for the Finance Magnates London Summit.
Italy downgraded There was fear of a two-notch downgraded, which would have put it below the junk threshold. Instead, it gets a stable outlook, which means the chance of another downgrade in the near-term is low.
The Commitments of Traders weekly CFTC futures forex positioning data: None of the moves were too dramatic but the theme was fewer bets against the pound and yen with expanding bets against the euro. The New Zealand dollar shorts were caught offside this week.
Home builder ETF down in 23 of past 25 trading days The combination of higher interest and higher construction costs are swamping any economic optimism in the home building segment.
Charges for meddling in 2018 election ForexLive
Loonie on the losing end There was a major divergence this week in FX performance with the Australian and New Zealand dollars at the top of the chart and the Canadian dollar at the bottom.
Bolton wants US to quit treaty John Bolton has advised Donald Trump to exit the 1987 intermediate-range nuclear forces treaty. Russia is developing a new cruise missile which the US says violates the agreement. Bolton has long sought to pull the US out of arms control agreements and is also said to be blocking a restart…