us federal reserve

Risk Appetite Up Amid hopes of China-US deal

15th April 2019 Market Update

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🇬🇧 GBP –  Sterling moves were subdued on Friday in the absence of any data flows or Brexit news as parliament is now in recess until April 12th.
Over the weekend both the government and the Labour party said their talks represented the best chance of breaking the Brexit impasse. Talks are set to continue between the two parties despite the recess process.
Ahead of the long weekend, market focus will be on jobs data on Tuesday, inflation figures on Wednesday and retail sales data on Thursday.
Sterling remains within the lower end of its trading ranges against its peers.

🇪🇺 EUR – Industrial production figures on Friday came in better than expected adding to the continued strength of the euro.
Over the weekend, Mario Draghi voiced his concern about Donald Trump undermining the independence of the Federal Reserve whilst speaking to reporters at the International Monetary Fund meetings in Washington. He also added that an upturn in the eurozone is still possible in the second half of this year.
This week we have the ZEW survey on economic sentiment on Tuesday, inflation figures on Wednesday and manufacturing and service sector figures on Thursday.

🇺🇸 USD –  Donald Trump weighed in once again criticising the Feds monetary policy citing that rate rises in the US have been “killer” and that US equity markets would be 5,000-10,000 points higher without them.
Treasury secretary Steven Mnuchin indicated that China and the US are getting closer to an accord, should both countries be willing to accept the punishment that would arise should either nation let each other down.
The main data in focus this week will be Thursdays report on the retail sector.

 

Summary:
GBP: Sterling in Limbo as Brexit Recess Begins
EUR: Draghi Voices Concerns about Trump
USD: Trump Attacks Fed Once Again


 

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Darren Kilner

Darren Kilner

Darren is Head of Dealing at FairFX. Darren lives and breaths FX, his Mastermind topics are G8 currencies and economic forecasts.

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