US FX Handover: US-China Trade Deal Speculation Swirls

See a summary of the top FX themes and trends from today's US session!

  • US-China trade deal speculation was rife today, with a Chamber of Commerce official saying talks were in the “endgame,” while Chinese media suggested the negotiations were at an impasse. Traders remain skeptical until a Trump-Xi summit is formally announced.
  • The BOE voted 0-0-9 in favor of leaving interest rates unchanged, upgrading its growth forecasts and downgrading its inflation forecasts in the process.
  • Leading indicators are mixed ahead of tomorrow’s US Non-Farm Payroll report (see our full preview here).
  • The US dollar was the strongest major currency on the day, while the loonie was the weakest, keeping USD/CAD’s series of higher lows intact.

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