Chinese data surprised to the upside, which, added to vaccine optimism boosted risk sentiment, dragging on the US Dollar, whilst underpinning stocks and gold.<\/p>\n
Boris Johnson\u2019s controversial bill wins a majority in its first Parliamentary vote, pressurising sterling. The economic calendar is relatively busy ahead of the Federal Reserve monetary policy announcement.<\/p>\n
Asian markets and S&P500 500 futures advance after Chines industrial output increased 5.6% on an annual basis in August. Chinese \u00a0retail sales rose a better than forecast 0.5% YoY. Adding to the upbeat mood, China extended exemptions on some US goods imports.
\nThe US dollar is trading lower, particularly versus the Australian dollar which is supported by China\u2019s data and less dovish than expected meeting minutes from the Reserve Bank of Australia.<\/p>\n
Gold is breaking out to the upside striking its highest level \u00a0in almost two weeks. According to Citibank record ETF investor demand, a softer dollar and negative yields are also keeping Gold buoyant<\/p>\n
GBP\/USD is not capitalising on USD weakness. The Internal Markets Bill was voted through the lower house in Parliament. The bill has been widely criticised for violating the Brexit divorce treaty with the EU. When the bill comes to its final reading next week, some members of the ruling Conservative Party have indicated that they will vote against the bill.<\/p>\n
UK labour market data is expected to show a mild increase in the unemployment rate. Bank of England’s interest rate decision and the future of the government\u2019s job retention scheme are anticipated.<\/p>\n
Increasing coronavirus cases on mainland Europe\u00a0 is not deterring EUR\/USD which is advancing thanks to \u00a0European Central Bank’s unfazed attitude towards the value of the Euro. German ZEW Economic Sentiment will be watched<\/p>\n
Nerves are building ahead of the Federal Reserve rate decision \u2013 the final decision ahead of the US Presidential elections. Updated economic projections for employment and growth will be eyed.<\/p>\n
Prior to the Fed\u2019s rate decision, releases on Tuesday include Empire State Manufacturing Index (Sept) and Industrial Production (Aug).<\/p>\n
USD\/JPY trades sub 106, appearing indifferent to \u00a0the rise of Yoshihide Suga outgoing Japanese prime minister’s right-hand man who will take office on Wednesday.<\/p>\n
The price of oil was under pressure on reports that \u00a0that OPEC+ countries are unlikely to deepen output cuts.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Chinese data surprised to the upside, which, added to vaccine optimism boosted risk sentiment, dragging on the US Dollar, whilst underpinning stocks and gold. Boris Johnson\u2019s controversial bill wins a majority in its first Parliamentary vote, pressurising sterling. The economic calendar is relatively busy ahead of the Federal Reserve monetary policy announcement. Asian markets and […]<\/p>\n","protected":false},"author":163946597,"featured_media":5531,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1381],"tags":[1395,2412,1398],"class_list":{"0":"post-104670","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-usd","8":"tag-eur","9":"tag-eur-usd","10":"tag-usd"},"acf":[],"yoast_head":"\n