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2019

How important are these meetings?

Published: Tuesday 09 July 2019

  • USD still strong
  • ECB leaves markets perplexed

USD still strong

And speaking of Washington, we will have a barrage of Federal Reserve speakers this afternoon, including the Fed Chairman himself. At a time when the US President wants lower interest rates and the economy is flattening out, these could all be noteworthy. We will also have the crude oil inventories, which have an impact on the price of oil and the value of the US Dollar. So that is worth watching. The USD is strong in the way that it always is when confusion and conflict rage around the globe.
 
This afternoon also brings Canadian housing data which is forecast to be quite mixed. If so, the loonie may not be overly affected but a drop of more than 2.5% in building permit issuance would weaken the Canadian Dollar. 


ECB leaves markets perplexed

As for the euro, well many are confused about the European Central Bank's intentions and that is holding the Euro back in spite of improved data over the last week. It is very unclear whether the ECB is planning on further quantitative easing (as we used to call it a decade ago) or perhaps other measures that will push more liquidity in to the financial markets to boost activity.
 
And come on Jo. Johanna Konta is the last British woman standing in the quarter finals at Wimbledon after a nail biting come back yesterday. True grit is what she'll need to progress because the standard has been exceptional.
 

Confession

Michael entered the confessional and said, "Bless me Father, for I have sinned. Last night I was invited to an orgy and I didn't leave there until 10am this morning. I can't count the number of partners I had during the night."

Father O'Malley said, "Well my son. You must go straight to the corner shop. Get six lemons, squeeze them into a glass and drink the juice without pausing."

Michael is a bit surprised but said. "Ok Father. Will that cleanse me of my sins?"

"No," said Father O'Malley. "But it'll wipe that smug grin off your face."
 

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