San Francisco Fed promotes from within Mary Daly will be the next President of the San Francisco Fed, taking over from John Williams who will lead up the New York Fed.
Up from $67.75 last week The price of crude oil is settling the day at $68.99. That is up $0.40 on the day or 0.58%. The contract is also up on the week. Last Friday, the contract settled at $67.75.
Pair stalled at the topside trend line earlier in the day The GBPUSD tested a topside trend line earlier in the day and stalled against that trend line not once but twice () . That helped to put a lid on the pair. The price has been pushing lower since then.
That’s not going to help Two weeks ago, Argentina was asking the IMF to speed up payments. ForexLive
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
Of course trade news can happen at any time The key events and releases in the new week will include news on any of the trade relationships with the US including US and Canada, US and China, and US and the EU. News can happen at any time. Risk event.
Manafort isn’t going to sell out Trump NPR reports that Manafort’s cooperation agreement with the special counsel does not include matters involving the Trump campaign.