Trump says we are going to call this the United States-Mexico trade agreement, getting rid of NAFTA name – ALL GOOD TO GO FOR MEXICO.
Canada’s Freeland to travel to Washington Tuesday for NAFTA
Canadian Foreign Minister Chrystia Freeland will travel to Washington on Tuesday to continue trade negotiations, her spokesman said on Monday, amid news that Mexico and the United States have reached a trade agreement. “Given the encouraging announcement today of further bilateral progress between the U.S. and Mexico, Minister Freeland will travel to Washington, D.C., tomorrow to continue negotiations. We will only sign a new NAFTA that is good for Canada and good for the middle class. Canada’s signature is required,” spokesman Adam Austen said in an emailed statement. Read More @ https://uk.reuters.com/article/uk-trade-nafta-canada-freeland/canadas-freeland-to-travel-to-washington-tuesday-for-nafta-idUKKCN1LC22Z
Bank of Canada governor hints he will raise interest rates even if he doesn’t have to: Don Pittis
Disruption caused by digital technologies is making the job of central bankers harder. That was the essence of a speech by Bank of Canada governor Stephen Poloz at this weekend’s annual shindig for central bankers in Jackson Hole, Wyo. In a speech titled “The Fourth Industrial Revolution and Central Banking,” the governor hinted at an interest rate hike. Digital disruption is making data harder to read, and what Poloz described as “augmented uncertainty” may mean he will lift interest rates even though he strictly doesn’t have to. Read More @ https://www.cbc.ca/news/business/interest-mortgage-poloz-1.4799079
WHAT IS THE USD CHART SAYING?
USD has finally broke the re-test line and now $94 is confirmed. Donald Trump go ahead for both Canada and Mexico is all good for a weaker USD. We believe Trump will succeed in his fight for a weaker USD.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- 1.00pm – BOJ CPI data we are expecting all good to go for the JPY. We maintain BUY for JPY.
- 4.00pm – EURO will release private loans – expected to be good.
- 8.30pm – Goods Trade Balance and Prelim Wholesale Inventories will be releases – bother are expected to be no change or weak.
- 10.00pm – CB Consumer confidence & Richmond Manufacturing Index – both are expected to be weak. We maintain SELL for the USD.
Overall the market awaits for correction for the USD. Always bear in mind your money management and your risk and reward.
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