Mexico and Canada Optimistic on Nafta Deal Amid Tariff Tensions

Mexican and Canadian officials are optimistic they can reach a Nafta trade deal with the U.S. in the next several months, even amid sticking points on car production, an automatic expiration clause and President Donald Trump’s threats to impose tariffs on foreign vehicles. The nations will work to land an agreement before U.S. mid-term elections in early November, Mexican Economy Minister Ildefonso Guajardo said Wednesday as he and Foreign Minister Luis Videgaray hosted their Canadian counterpart Chrystia Freeland in Mexico City. While some of the negotiations take the shape of meetings between just two nations, and the U.S. has expressed a preference for bilateral deals, Mexico and Canada remain committed to a trilateral agreement, they said. Read More @ https://www.bloombergquint.com/politics/2018/07/25/mexico-and-canada-optimistic-on-nafta-deal-amid-tariff-tensions#gs.ixkB4xg

Trump calls for quick NAFTA deal in letter to Mexico president-elect

“A strong relationship will lead to a much stronger and more prosperous Mexico, which frankly would make me very happy!” Trump wrote in the letter. The missive was the latest step in a thawing between the two countries since Lopez Obrador’s landslide victory, after a tense 18 months between Trump with outgoing President Enrique Pena Nieto. Known as “AMLO”, the president-elect wrote Trump a seven-page letter earlier this month, signing off that both men had managed to “displace the establishment.” Read More @ https://www.reuters.com/article/us-usa-mexico/trump-calls-for-quick-nafta-deal-in-letter-to-mexico-president-elect-idUSKBN1KF018

Fed Presidents Seek Powell Put to Prevent Inverted Yield Curve

When Alan Greenspan ruled the Federal Reserve, investors became convinced the central bank could be counted on to prevent a stock market collapse — the so-called Greenspan put. Now, Chairman Jerome Powell is under pressure to adopt what would amount to a put of his own, except this time it would be tied to the bond market. Some Fed regional bank presidents want the central bank to be cautious in raising interest rates to prevent short-term Treasury yields from rising above long-term ones — providing a kind of comfort that Greenspan gave equity investors. Those policy makers argue that such a yield-curve inversion has proven to be a reliable harbinger of past recessions. Read More @ https://www.bloombergquint.com/global-economics/2018/07/25/fed-presidents-seek-powell-put-to-prevent-inverted-yield-curve#gs.MV_qk0E

WHAT IS THE USD SAYING?

USD finally breaks the Support @ 94 as predicted yesterday and now the question is 93.50 as the market awaits for Friday GDP data from the US. Today ECB conference is expected to be bullish and the market is expecting the USD to go lower.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 2.00pm – German consumer Climate data is expected to be good.
  2. 7.45pm – EURO Main refinancing rate information – EURO expected to be volatile.
  3. 8.30pm – Massive volatility is expected – we are expecting a dovish statement from ECB.
  4. 8.30PM – NUMBER of data will be release by the US – Durable goods, Trade Balance and preliminary Wholesale inventories – all is expected to be no change or weak.

The market should get some fresh news today for some good volatility in the market. Be cautious and always have good money management in place.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

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