Daily Update - 10th April 2018
The never-ending war-trade drama continues being the main market mover for the financial world. US President Trump comments via twitter during the weekend gave market players some optimism that persisted through most of the European session, although ahead of the close, news that the Chinese government was studying the possibility of devaluating the Yuan, to counter effect US tariffs. Falling U.S. treasury yields and US Stocks also weighed on the dollar. Euro plunged down with German Trade Balance coming out negative missing market's forecast as well. Canadian Business outlook survey suggested that Canadian companies remain upbeat about future sales, business investment and hiring, despite NAFTA negotiations while Bank of Canada remains positive that in the medium term Loonie will be strengthened to support the economy. A light day in terms of data as we will only see PPI ex Food & Energy from USA. This measures the average changes in prices in primary markets of the US by producers of commodities in all states of processing. However, there are two speeches scheduled from UK MPC and US FED’s. Both speeches will be scrutinized for any hints on market movement. Further more the markets will be focusing on tomorrows Inflation Figures and FOMC Minutes to give key direction to Greenback.Yesterday Market
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