Steven Mnuchin sees no threat of recession, Germany is looking to boost its economy, & Boris Johnson is doing all he can to ensure an Oct. 31st separation.
U.S. Treasury Secretary Steven Mnuchin on Monday said he did not see the threat of a recession as the Trump administration seeks to revive trade negotiations with China, adding that he expected a positive year ahead for the U.S. economy. Affects USD
Three people familiar with the internal discussions told Reuters, Germany is considering the creation of a “shadow budget” that would enable Berlin to boost public investment beyond the restrictions of constitutionally enshrined debt rules. Affects EUR
In August as expectations about falling mortgage rates offset reduced optimism about home price appreciation and the timing to buy and sell a home, U.S. consumer sentiment about buying a home ticked up. Affects USD
Texas Attorney General Ken Paxton explained a multi-state antitrust probe of potentially anticompetitive practices at major U.S. technology companies, which is expected to focus on Alphabet’s Google. Affects Google
Setting up a showdown with parliament after it passed legislation demanding that he delay Brexit unless he strikes a new agreement, Prime Minister Boris Johnson said on Monday he was undaunted by an attempt by lawmakers to block a no-deal Brexit. Affects GBP
The British Claimant Count Change for August will be published. Claimant Count Change measures the change in the number of unemployed people in the U.K. during the reported month. Affects GBP.
U.S. JOLTs Job Openings for July will be released. Done by the US Bureau of Labor Statistics to help measure job vacancies. Affects USD.
Though both currencies are staring down the barrel of impactful unemployment news, Brexit will weigh heavy on the pound. While the potential for a no-deal Brexit remains high so will the GBP’s volatility.
On the pair’s 1H TF, an Engulfing Bearish signal has developed, indicating a downtrend.
This metal’s 1H TF has shown a Three Outside Down pattern signaling a downtrend.
The French index’s 1D TF shows a trend shift as the price approached the resistance level at 5637.