Good Morning All;
we’ll see now a new Daily Market Round up.
•BoJ plans to make negative interest rate policy the centrepiece of future monetary easing according to a Nikkei report
•Donald trump leads Hillary Clinton by 5% points in Ohio, according to a Bloomberg report. The significance of this is that Ohio is one of the key bell-weather states that can signal the outcome of the overall election.
•UK labour market data for July offered little in the way of any excitement coming in within forecasts. Brexit fears over blown?
•EU Commission President Juncker gave his state of the union address, saying that the EU was not at risk from Brexit and that there can be no “ a la carte” access to the single market.
•ECB’s Knot, “ECB needs to be more flexible as it chases inflation targets”
•Monsanto agrees to to Bayer’s $57 bio takeover offer thus creating one of the world’s biggest agro-chemical companies.
Forex Market In DetailS
•The USD edged lower overnight as investors raised expectations the FED will rates on hold at their monetary meeting next week.
•Traders now assign a 52% chance of a December rate rise, down from 55% earlier in the week. For September markets are now factoring in just a 15% chance of a rate rise come the 21st of September.
•The JPY followed the USD lower against most other G10 curriencies.
•GBP finds some support after constructive jobs data.
•CAD lower on back of weaker oil price.
•China reported it’s largest sales of FX reserves in 6 months in an effort to stem the sell off in CNY
•EM and carry trade have taken on a less appealing look this week as commodities and equities turn south against the USD.