It seems every time Michel Barnier speaks lately, he sends cable into a frenzy.
This morning his comments sent Sterling higher in a hurry, jumping up 100 points in a matter of minutes.
He said he believes a Brexit deal can be done realistically within 6-8 weeks.
Bank of England and European Central Bank are scheduled to hold monetary policy meeting on Thursday Sep 13, both are expected to keep rates unchanged.
New month starts with U.S. and Canada on Labor day holiday.
RBA and BOC have rates meetings, then US NFP on Friday
Tonight the Euro Zone’s bailout fund, better known as the European Stability Mechanism, displayed their confidence in Greece’s ability to operate without international financial support – at least for the time being.
This marks the first time in nearly a decade, since their collapse in 2010, that Greece is financially stable enough to manage on their own without an IMF or foreign related safety net.
Euro jumped nearly 45 pips on the back of the news.
Qatar has promised $15 Billion to Turkey, USDTRY down almost 7% on the day.
Euro popped to stay steady around 1.1340
US Indicies down on the day, Turkey and China threatening more tariffs back to US.
Gold and Silver keep collapsing to lows for well over a year
“The Trump administration will propose raising to 25 percent its planned 10 percent tariffs on $200 billion in Chinese imports, a move that would ratchet up pressure on Beijing to return to the negotiating table, three people familiar with the internal deliberations said.”
-source: Bloomberg
USDJPY, AUDUSD, NZDUSD lower, USDCNH jumped higher by 200 points.
Extremely busy/important schedule for the end of July/beginning of August week with Bank of Japan, U.S.Federal Reserve Board, Reserve Bank of India and Bank of England are having monetary policy meeting, then U.S.Labor data to be released on Friday August 3.
European Central Bank Monetary policy meeting kept official interest rates and policy unchanged this morning, below the summary of president Draghi’s press conference;
EURUSD traded lower to mid 1.16
Somewhat light event/economic data schedule for July 23 week after G20 Finance Minsters & Central Bank Governors meeting in Buenos Aires, Argentina over the weekend.
ECB meeting on Thursday expected to keep rates unchanged.
Econ data release for the week of July 16,
There will be a G20 meeting of Finance ministers and Central Bank Governors in Buenos Aires, Argentina on July 21 and 22.
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