Risk comes back into fashion as stocks rose in Europe and US; commodity prices rebounded, including copper & oil. Commodity and oil-related currencies also gained the most, while safe-haven JPH and CHF lost ground. Germany’s trade surplus hits record but unlike China, this was due to rising exports outpacing rising imports.
Could be a risk to weak EUR forecasts.
Talk of US government shutdown reappears!
Republicans running for President want to make a stand against Planned Parenthood, a women’s health organization that provides abortions.
Need to finish everything by Sep. 30th, but this hasn’t happened for 18 years. The candidates’ need to distinguish themselves may cause a disaster = USD-negative
Today Market Movers
UK: Industrial production expected to rise in July = GBP-positive
US: Job Opening and Labor Turnover Survey (JOLTS) forecast to show modest rise in number of job openings
Canada: Bank of Canada rate decision: expected to hold rates steady but reaffirm dovish stance
New Zealand: RBNZ expected to cut rates 25 bps = NZD-negative