Daily Update - 29th August 2018
Yesterday’s Focus
No Major Data released
Yesterday’s explained
The euro was little-changed against dollar on Tuesday as investor’s optimism that a U.S.-Mexico deal will help avert a global trade war boosted appetite for riskier assets.
The United States and Mexico agreed on Monday to overhaul NAFTA, putting pressure on Canada to agree to new terms on auto trade and dispute settlement rules to remain part of the three-country pact.
Britain's pound declined against the dollar on Tuesday after British Prime Minister Theresa May played down the consequences of Britain leaving the European Union next year without securing a deal with the bloc.
Failing to reach an agreement on trade relations with the EU "wouldn't be the end of the world," May told reporters
Seen as undermining Finance Minister Philip Hammond's warnings about the economic damage from a "no-deal" Brexit - piled pressure on the pound
They now aim to finalize divorce terms by the middle of November at the latest, speaking after a meeting with U.K. Brexit Secretary Dominic Raab last week, the EU’s chief negotiator, Michel Barnier, wouldn’t commit to October as the deadline.
Today’s Markets
USD Gross Domestic Product Annualized, Personal Consumption Expenditure, Pending Home Sales
EUR Gfk Consumer Confidence Survey
Today’s Focus
The Gross Domestic Product Annualized released by the US Bureau of Economic Analysis shows the monetary value of all the goods, services and structures produced within a country in a given period of time. GDP Annualized is a gross measure of market activity because it indicates the pace at which a country's economy is growing or decreasing.
The Real Personal Consumption Expenditure released by the Bureau of Economic Analysis, Department of Commerce is an average of the amount of money the consumers spend in a month on durable goods, consumer products, and services. It is considered as an important indicator of inflation.
The GfK Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn.
