Forex news for North American trade on Sept 3, 2018
- ECB's Weidmann: Technology can also boost growth
- NAFTA: Pana-Nieto says didn't accept quotas or restrictions in deal
- Japanese PM Abe vows to overhaul social security system
- Salvini: Italian government reforms 'will provide all the answers
- European equity close: Mixed picture as UK leads the way
- Mexican manufacturing PMI slumps in August
- ECB keeps on keepin' with bond buys
- Argentina aims to balance budget next year
- Argentina President Macri to tax exporters
- Lula barred from running in Brazil election
Markets:
- S&P 500 - closed
- Gold flat
- Argentine peso -4.2%
- WTi crude up 30-cents to $70.10
- AUD leads, GBP lags
It was a holiday in the US and Canada but it wasn't quite as quiet as you might expect. Sterling was weak all day after Barnier's dismissal of the Chequers proposal but the selling stalled after a fall to 1.2855. There's a bit of support just below and that sparked a small bounce back to 1.2872 late.
Trump tweeted about Canada negatively on the weekend, warning Congress not to interfere with his NAFTA negotiations and that seemed to be the impetus for USD/CAD gains but the 1.3103 high couldn't get through the Aug 23 high and sellers pushed the pair back down to 1.3093 in slow going late.
USD/JPY was choppy in a range from 111.00 to 111.20 with no particularly speedy moves or headlines in play.
EUR/USD held a slight bid in a grind to 1.1617 despite growing worries about Italy and BTP yields rise.
AUD/USD staged a bit of a comeback to 0.7213 but it's after some heavy selling late last week. China risks are high at the moment and it seems every day you read something about interest-only loans in Australia resetting.
