Good morning,
We’re back! Apologies to those who have not been receiving their regular market updates.
Today we kick off with the G20 summit in Osaka. The much-anticipated meeting between Trump and President Xi is scheduled to take place tomorrow at 15:30 CEST which will be a key source of headlines as journalists scramble to action. Without going into too much geopolitical detail, the markets will want to see an attempt at easing military tensions between Iran and the US, and a ceasefire in the trade war. I wouldn’t be surprised if Trump ratchets up his efforts to penalise and sanction everyone in sight if the meeting does not go to plan.
At 10:00 BST we have Eurozone inflation – a rollercoaster ride of data at best. Given the ECB’s renewed direction, this will form an important part of their research and Euro sentiment.
GBPEUR and GBPUSD have had a quiet week, mainly a result of the lack of deliverable progress on a variety of issues in the UK – GBPEUR net change this week has been 0.65% and GBPUSD at 0.9%.
Have a great weekend.