BOE RECAP, EU-US TRADE, NFP DATA, US DOLLAR – TALKING POINTS
- The US Dollar[1] will be closely eyeing Donald Trump’s announcement on EU trade
- Fed’s Powell warned about slowdown in local factories after FOMC[2] rate decision
- Bank of England’s Mark Carney warned of Brexit, impact of US-China trade war
See our free guide to learn how to use economic news in your trading strategy![3]
APAC RECAP
Early into Friday’s Asia Pacific trading hours, equity markets gapped lower after a series of volatility-inducing news events continued to break headlines. Trade tensions between Japan and South Korea rapidly escalated with authorities in Hong Kong announcing martial law to quell the protests. News also broke that US President Donald Trump will be making an announcement on Friday at 1:45 pm on EU trade. [4][5]
TRUMP TO MAKE ANNOUNCEMENT ON EU TRADE
US President Donald Trump is set to make a major announcement about EU trade on Friday 1:45 PM. Political and economic relations between Washington and Brussels has been under serious strain since the implementation of the steel and aluminum tariffs in 2018. European policymakers and investors now fear that Mr. Trump may impose an auto import tariff and pressure Germany’s already-slowing economy.
US non-farm payroll data for July may also catch the attention of traders before Mr. Trump makes his announcement. Estimates are currently pegged at a 169,000 increase for the month, lower than the previous print at 224,000. Data out of the US has been tending to underperform relative to economists’ forecasts, so it would not be surprising if US non-farm payroll data fell in line with this trend.
BANK OF ENGLAND’S MARK CARNEY WARNS OF BREXIT, US-CHINA TRADE WAR
On Thursday,
