IMF: Canada faces risks from US Trade policy – Reuters

As reported by Reuters, Canada faces extreme risks from US tax and trade policies according to the International Monetary Fund (IMF). Key quotes "In the preliminary findings of its annual review of the Canadian economy, the IMF said that interest rates should be raised only gradually, even a ...

US economic growth well above potential in 2018 – NBF

Paul-André Pinsonnault, an analyst at NBF Economics and Strategy, explained that the U.S. economic indicators remain consistent with economic growth well above potential in 2018.  Key Quotes: "Assuming the global economic outlook is not derailed by political drama o ...

Market wrap: markets remained upbeat – Westpac

Analysts at Westpac explained that markets remained upbeat in the wake of Friday’s solid US payrolls report.  Key Quotes: "European markets were mostly upbeat (Italy’s -0.5% stands out) while in the US, the S&P 500 added 0.5% on to ...

White House to keep sanctions on North Korea – Reuters

The White House has reported that sanctions currently on North Korea from the US will remain in place, despite a confusing Tweet from President Trump over the weekend, stating that he wants to stop using the "maximum force" descriptor, because the two parties are agreeing with each other ...

Japan Overall Household Spending (YoY) registered at -1.3%, below expectations (0.8%) in April

Forex today: was risk-on from the off supporting the Aussie

After a positive Friday's nonfarm payrolls as a backdrop to Monday's markets, traders shrugged off the imminent risks of a hot trade war between the US and its closest allies. Forex today was risk-on from the off that supported the Aussie on a tear to above 0.7660 and the highest level ...

United Kingdom BRC Like-For-Like Retail Sales (YoY) registered at 2.8% above expectations (-0.8%) in May

Ireland Consumer Confidence increased to 106.7 in May from previous 104

South Korea Current Account Balance declined to 1.77B in April from previous 5.18B

US unorthodox diplomacy angers in Berlin – Reuters

The US diplomatic envoy to Berlin is ruffling feathers with their 'unorthodox' negotiations tactics, according to reporting by Reuters. The White House is being asked by Germany to clarify remarks made by the US representative in Berlin regarding the US' desire to "empower othe ...

Australia AiG Performance of Services Index climbed from previous 55.2 to 59 in May

Key US data coming up – Nomura

Analysts at Nomura noted the key data for the US coming up and offered a preview. Key Quotes: "ISM non-manufacturing index: Incoming business surveys for May suggest elevated sentiment, although some cooling of forward-looking indicators implies businesses are still grappling with trade polic ...

AUD/USD into fresh highs as market sentiment improves across the board

Aussie heads into Tuesday's RBA rate statement after a bullish Monday. Rate statement unlikely to deviate ahead of Wednesday's GDP figures as current economic upswing may be temporary. The AUD/USD is trading near 0.7650 after climbing steadily through Monday's trading action ...

Key US data and GDP tracker update – Nomura

Analysts at Nomura offered a review of the US key data from overnight while updating the GDP tracker. Key Quotes: "Factory orders:  New orders at factories fell 0.8% m-o-m in April, driven by sharp declines in orders for transportation equipment. Ex-transportation durable goods order ...

Strength towards the low-to-mid-70s level is a sell – ANZ

Analysts at ANZ explained that the markets are brushing aside the latest threat of trade wars, even as the next G7 leaders meeting looms, with a positive risk-on tone providing the NZD with the fuel it needed to test higher.  Key Quotes: "We think this move could have legs in th ...