Amid quite the light macroeconomic calendar before noon, moves across the FX market have been subdued so far. Looking at the G10 basket one could notice that the Antipodean currencies are among the weakest ones - both are losing more or less 0.3% against the greenback, not much but it’s worth mentioning anyway. Worse performance of AUD could be a consequence of lower than expected GDP growth in Q2. The report showed that the economy grew 0.8% q/q and 1.8% y/y as inventories and net exports subtracted from growth.
The European equity markets have kicked off moderately lower following fairly a lackluster Asian session. A bit more cautious approach could stem from the fact that the ECB’s meeting will take place tomorrow and with some doubts surrounding a decision regarding a reduction of monthly assets purchases there is a risk of a more stormy session for the euro and the stock markets alike.
Weather in some parts of the US has been exceptionally dangerous of late. While losses after the hurricane Harvey have not yet to be added up, another much more powerful hurricane Irma is nearing the East Coast of the US. According the forecasts provided by the US National Hurricane Center, Irma could proved to be yet more menacing in comparison the Harvey. In effect, WTI oil prices are gaining almost 1%, while the Brent is upping 1.4%
The Canadian economy has seen a turnaround this year and the Bank has already responded with higher rates and could do so again. This in turn has translated into much stronger CAD. What to expect from the BoC today? What’s next for USDCAD?
The ECB meeting on Thursday could be the most important market event in September. The European economy has seen a major recovery so far this year and it is time for the ECB to respond. But isn’t the euro exchange rate already too high? In this analysis we present the 5 things you need to know to be prepared for this trading opportunity.
Today we got the story of note from Dubai which could be seen as Bitcoin-positive. Cutting to the chase, two businessmen (Baroness Michelle Mone and Douglas Barrowman) have announced the sale of 2.4 million square feet of Dubai residential property will be sold for Bitcoin.
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