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Monday Blues: U.S. Negotiating Tactic Or Ceasefire May End

Seeking Alpha·Marc Chandler·21 days ago
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#source#chevron#alpha#today#slightly#trump
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Home Market Outlook Forex Analysis Summary The Trump-Xi meeting is the highlight this week, and we have argued to keep expectations modest. The dollar is mostly firmer, though the Canadian dollar and Norwegian krone are slightly firmer. Equities are mostly lower, yields higher, alongside oil. After President Trump rejected Iran’s counter-proposal, the euro fell about $1.1745 in early turnover today. It recovered to slightly above $1.1780 before stalling in Europe. A poor Canadian jobs report and its contrast with the US weighed on the Canadian dollar. The greenback settled above the 20-day moving average (~CA0D1.3670 today) for the first time in a month. Still, it is consolidating in quiet, if choppy, action today between about CAD1.3660 and CAD.3700. Equities are mostly lower. Japan's indices  were mixed, while China’s CSI 300 gained almost 1.65%. Europe’s STOXX 600 is nursing a small loss, which, if sustained, would be the third consecutive decline. US index futures are also slightly in the red.…

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