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

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