While the market is lacking data events in the US session with all eyes focused on this week's CPI release, with traders preoccupied with the threat of the Fed raising rates at a faster pace than first anticipated, there has been a stream of headlines crossing the wires in the background worth noting.
The S&P has said that it sees a 10-15% risk of the US entering a recession over the next 12 Months. (the recent stock market rout has likely triggered such a headline, although many analysts put this down to being just a "healthy correction").
We have also had various news from US President Trump's camp in terms of trade and industry and international trading partnerships:
- Have told china something coming in near future
- Want to make sure that we have a steel industry
- Steel tariffs an option to counter dumping
- Steel tariffs and option to counter dumping
- US steel companies 'hanging on for their lives'
- Wants to make sure that we have a steel industry
- US has very bad trade deal with Korea
- He wants to hear from both sides on trade issue
- Told China something coming in your future
- Canada treats US unfairly on lumber, timber
Other headlines from the Trump camp:
- Trump administration has no formal plans to enact a 'reciprocal tax' - senior administration official.
- U.S. Spy chiefs tell Senate panel they have seen Russian activity and intentions to affect 2018 congressional elections.
- US Senate Democratic leader Schumer: ‘on the verge’ of moving forward on immigration
- US Senate majority leader McConnell: backs trump’s immigration plan.
Then, N.Korea gets back in the headlines with a headline that N.Korea has no plans to ‘negotiate away’ its weapons.
Fed’s Mester: upside risks to forecast ‘more salient’ than they have been in ‘quite some time’, giving some support to the dollar, that has, albeit, been on the back for this week so far, currently -0.60% within a range of between 89.609 - 90.177.
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