EUR/USD technical update After we saw , the Eurozone numbers were more of the same with a headline beat in the manufacturing number and a miss in the services:
Consistent with her taking over negotiations The UK PM May is saying that she wants negotiations with the EU to accelerate. Earlier May issued a statement saying:
Headline miss Reactions to come. ForexLive
Will the President give in a little? The official adds: Trump has said that he wants to get rid of all EU/US tariffs. A headline from an “Official” is saying that the EU wants Trump to suspend tariffs to get a trade deal.
Headline beat Reactions to come. ForexLive
US dollar overvalued The IMF is out with some “staff” estimates for forex rates:Pres. Trump will be happy about that report. Last week, he harped on the drag from the strong dollar.
Politico report So everyone is going to put on tariffs and then subsidize when others do the same to them. “The administration’s plan will use two commodity support programs in the farm bill, as well as the Agriculture Department’s broad authority to stabilize the agricultural economy during times of turmoil,” says.
Richmond Fed manufacturing data – was +20 (revised to +21) – Shipments +16 vs +17 prior
Theresa May will do it herself Cable likes the headline and is at the best levels of the day. May in a statement says she will lead negotiations with the EU while the Brexit department will instead focus on preparations for a no-deal Brexit.
Preliminary Markit manufacturing and services data A bit stronger on manufacturing and a touch soft on services but overall, 55.9 on the composite is strong. Commenting on the flash PMI data, Chris Williamson, Chief Business Economistat IHS Markit said: