Lots of Fed talk today Powell is coming up at the top of the hour. Expect a similar, optimistic tone on growth and a hint of hawkishness. ForexLive
Manafort is cooperating with Mueller It’s not yet clear how much cooperation he will be doing, or what he knows. He’s certainly not getting a sweetheart deal. He’s already been found guilty to counts that will lead to several years in jail and with this plea he will get more jailtime and has agreed to…
Pair tests support area The AUDUSD is getting hit on the back of the rumblings that Pres. Trump is wanting to enact the $200B of tariffs on China. The price has moved to new session lows and tests the 200 hour MA and 50% retracement at the 0.7156 and the 100 hour at 0.71484.
Western Canada Select is at a $36.00 discount Recent numbers from Statistics Canada showed an 11% increase in Canadian oil production in the past year yet pipeline capacity continues to lag.
According to 4 people familiar A report from 4 people familiar with the situation, Pres. Trump told aides to proceed with the $200B of additional tariffs on China exports to the US. This is on top of the $50B already being enacted.
German Dax leads the way The European major stock indices are ending the week/day with gains: For the week: A snapshot of the forex market shows the USD is the strongest of the majors and the EUR is the weakest.
Talk of higher neutral rates are pushing up Treasury yields I was on BNNBloomberg yesterday talking about global currencies. If you skip ahead to 2:50, I talk about neutral rates and how the debate has changed this week, and what it means for the US dollar.
ECB sources from Reuters Draghi said risks were balanced, so there must have been some people on the other side. Draghi was surprisingly upbeat yesterday but it’s clear that there’s some worries, especially with a few weak data points.
But will start at 10% The WSJ is reporting that according to a senior administration official, Pres. Trump is expected to announce additional tariffs on $200B of Chinese goods as early as Monday.
Weekly US oil drilling rig count data Drilling picks back up but has stalled for a few months. ForexLive