Global trade tensions remain in focus, watching the greenback - TDS
|Analysts at TD Securities noted that global trade tensions remain in focus.
Key Quotes:
"Global trade tensions remain in focus after President Trump threatened new restrictions on Chinese investment in the US, spurring a sharp selloff in North American equities (SPX: -1.3%, TSX: -1.6%) after a similar risk-off session in Europe. Rates saw a more modest reaction to trade threats with USTs rallying by up to 2bps in 5s, while Canadian rates outperformed by 1-2bps across the curve."
"USD started the week on its back foot with EUR (+0.4%) leading the G10 complex after upside on IFO expectations while JPY (+0.2%) continues to fair well in the current risk environment. CAD (-0.2%) remains out of favour with markets amid the focus on trade risks."
"BOE/ECB speakers are the main risk events for Tuesday."
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