FX Highlights

  • Trade dispute between the US and China may slow global economic recovery, Asian stock markets dip, Australian stocks down 1.4%
  • GDP slides vs. USD and the EUR, Item Club says the U.K housing market slump will resume next year, Mortgage lending squeeze persists
  • The EUR seems to have shrugged off EUR zone industrial production figures which fell 0.3% in July, slightly lower than most forecasts, employment was down 0.5% in Q2
  • USD/JPY gains ground, Japan's Finance Minister Tango says officials are watching currency moves closely but did not comment on specific levels
  • The AUD fell 0.6% to 0.8576, retreating from Friday's one-year high of 0.8677
  • USD/CAD firms slightly as crude prices trade near the $69/brl levels, off .050
  • US equity markets set to open lower following Asian and European lead

Upcoming Events

  • US- Fed's Lacker speaks on Financial Regulation, Fed's Yellen speaks in San Francisco on Economic Outlook
  • CAN- Capacity Utilization Q2