Some wire reports on US Presdient Trump heading into the G& – Trump planning on adopting a confrontational tone at G7 – In response to the other 6 nations collectively pressuring him regarding tariffs —
A piece via Bloomberg nominating “three looming crises” that could prices higher in coming months: – Iranian sanctions – Venezuelan unrest – Libyan terrorists Nothing new there, but nevertheless a useful reminder
Media reports that Joseph Hagin, White House Deputy Chief of Staff for Operations is to leave Washington Post citing “according to four people familiar with White House planning”.
trade talks with US included in depth discussions about agriculture and energy sector trade Reuters headlines speaking of friction, one for the older kiwis:
Reuters with the headline remarks from Mr. S – there is no change to Japan’s stance that any trade steps should be in accordance with World Trade Organisation rules
Nothing radical in Lopez-Obrador central bank strategy The leading candidate to take over Mexico’s presidency said he would like to bring new personnel into the central bank when current terms expire but that he won’t change the mandate.
It’s something that needs to be repeated Some of the smartest professors, economists and traders have no idea about how the banking system works. It goes back to the textbooks. The myth is that you deposit money at a bank, then that money is leveraged and lent out by the bank. So your $100 at…
100 and 200 hour MA are resistance areas. Good place to sell. The earlier speculation was that Canada could possibly be exempt from tariffs. That sent the CAD higher (the USDCAD lower).
Comments from White House economic advisor Larry Kudlow USD/CAD has erased most of today’s drop and is trading at 1.2941 from a low of 1.2859.
UK Brexit negotiator is not pleased about Irish border backstop Cable is near the lows of the day as it erases most of its gains. The trouble started after an FT report saying Brexit negotiator David Davis was in a serious row with Theresa May about her Irish border plan.