Market Recap – FX Week Europe

The US Senate voted unanimously a bill to protect human rights in Hong Kong. The Chinese foreign ministry accused the USA of interfering in the Chinese affairs. Worth noting that the phase 1 trade deal between the two countries is still pending.

US-South Korean negotiations over which party should bear the cost of US troops in the peninsula failed yesterday. The US was asking a $5bn annual contribution, five times more than South Korea paid last year.

Israel stroke Inanian targets in Syria.

Financial markets halted their risk-on mode.

Macro releases: The focus turns to the US crude oil inventories, the release of the FOMC minutes of meeting and the Canadian economy. Apart from the announcement of the new Cabinet of Justin Trudeau, the economic calendar includes the Canadian inflation reading.

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