USD still strong
- USD still strong
- ECB leaves markets perplexed
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.
ECB leaves markets perplexed
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.
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.