Nominated for the understatement of the year UK PM May is speaking about G7 meetings: – Was clear there was some debate and disagreement – G7 agreed to maintain sanctions on Russia The video display of the PMs comments can be found HERE
Comments by Steffen Seibert, chief spokesman to German chancellor Merkel Continues to show that the trade dispute between the two won’t be resolved any time soon. The US isn’t going to go through any WTO settlements, so unless the EU decides to head to the negotiating table, expect this tit-for-tat to continue.
Italian new economic minister Giovanni Tria sparks the sharp moves The Italian markets are on fire after the new economic minister, Giovanni Tria said the country’s new government is committed to the euro.
The ever changing landscape The US treasury website is reporting that the US has issues more Russian sanctions related to cyber activity under 2017 las They also:
Association of German Chamber of Industry and Commerce weighs in on trade disputes All the comments talk to Trump winning the battle and bad news for German exports. If Trump puts the squeeze on China (hard not to see that), then that too will put increasing pressure on German companies (i.e. high end autos).
Trade near June highs and approaches 38.2% at 0.7058 The NZDUSD trades to a new session high as “risk on” supports the pairs price. The fears of fallout from the G7 meeting has not materialized in the stocks markets. The price action has been up and down, but in the NY session, the 100…
The market shrugs…. The fireworks from the G7 are not causing much of a stir in the US stock markets. The Europeans stock reaction seemed to have helped (most major indices are higher). There are pockets of weakness in the auto sector in Europe. Shares of Daimler Benz in Germany are trading at the lowest…
Are investors worried about auto tariffs for Japan? The US stocks are getting ready to open and the fears of fallout from the G7 are fading away. Stocks will open near unchanged and may be an influence.
Data today was not great, but break fails. What now? The data today out of the UK was not great. fell by a greater than expected -1.4% vs +0.3% expected. The as well. That helped to send the GBPUSD tumbling to the downside.
100 hour MA and trend line at 1.1769 area The EURUSD moved higher earlier in the day. It is retracing those gains into the NY session. Looking at the hourly chart, there is a band of swing highs/lows in the 1.1822-42 area. It is wide but the area divides the higher extreme from back in…