Forex Today: Canadian dollar bounced on NAFTA news, US Q2 prelim GDP - key

Forex today in Asia was a quiet affair this Wednesday, with most majors sticking to tight trading ranges in absence of relevant economic releases and a broadly subdued US dollar. Amongst the Asia-pac currencies, the USD/JPY pair traded almost unchanged near 111.20 region amid mixed Asian equities and mild risk-aversion, fuelled by uncertainty over the US-China trade issue. Meanwhile, both the Antipodeans traded marginally lower, in the wake of negative oil and gold prices.

The EUR and the GBP traded modestly flat, with the pound slightly weighed down by the Bloomberg report that the EU and UK negotiator could be struggling to make headway towards a Brexit, as they set a new deadline in November. The Canadian dollar was the top gainer after the Canadian press reported that Canada is ready to make significant concessions to secure the NAFTA deal.

Main topics in Asia

Canada's Freeland: Had constructive meeting with USTR Lighthizer

Comments from Canadian Foreign Minister Freeland are crossing the wires via Reuters: 

China State Planner: China faces more challenges in achieving stable economic development

China State Planner Chief is out on the wires stating the world's second-largest economy is facing more difficulties in achieving stable and healthy economic development. 

BoJ’s Suzuki: Expect factors that slowed inflation to fade away

More comments flowing in from the Bank of Japan (BoJ) board member Suzuki, as continues to speak about the monetary policy and the US tariffs.

US President Trump: New Trade Deal with Mexico will be a big hit! - Twitter

The US President Trump came on the wires now, via Twitter, sounding optimistic on the new US-Mexico North Atlantic Free Trade Agreement (NAFTA) deal with Mexico.

Canada ready to give way on dairy for NAFTA deal - GlobeAndMail

The Globe and Mail, a Canadian newspaper, reported a story on Wednesday, citing that Canada is ready to make significant concessions on dairy to secure the North Atlantic Free Trade Agreement (NAFTA) deal.

A possible EU / UK Brexit deal seen by mid-November - Bloomberg

Bloomberg quotes 'people familiar with Brexit talks', as saying that the UK and European Union (EU) see a deal unlikely by October.

Brexit: EU and UK negotiator are struggling to make headway

The UK PM Theresa May continues to assure markets that the pace of Brexit negotiations is accelerating, however, the reality is that the deal is unlikely to be wrapped up in the next seven weeks.

Key Focus ahead

Wednesday sees a thin showing for the European calendar, which makes up for the third straight day of data-light EU session. The second-tier German Gfk consumer climate will be reported at 0600 GMT, followed by Swiss ZEW surveys for August due at 0800 GMT. The UK docket remains absolutely data-dry.

The NA session looks relatively busy, with the Canadian current account data slated for release at 1230 GMT alongside the key US Q2 prelim GDP and core PCE price index data. The US Q2 GDP growth is seen at 4.0% y/y versus 4.1% previous. Also, in focus remains the US pending home sales data dropping in at 1400 GMT and the EIA crude oil stocks change report eyed at 1430 GMT.

EUR/USD nears a key 1.1750-80 resistance zone ahead of US GDP release

The EUR/USD's pullback from the 28-day high of 1.1733 clocked yesterday, indicates the "V-shaped" rally from the Aug. 24 low of 1.1301 has likely run out of steam near the 1.1750-1.1780 resistance range.

GBP/USD sees signs of life on Brexit news, eyes 1.2900 ahead of US GDP

The GBP/USD pair is seen showing some signs of life last hour, as the GBP bulls were offered some respite from the Bloomberg report that the Brexit dealis now seen likely by mid-November.

US GDP Preview: A minor downgrade will not deter the Fed, export component is key

The US releases the second version of Q2 GDP on Wednesday, August 29th, at 12:30 GMT. The first read came out at a growth rate of 4.1% annualized, the fastest clip in four years. 

US: Q2 real GDP growth seen at 4.0% q/q - Nomura

Analysts at Nomura offer a sneak peek at what to expect from today’s second-quarter US prelim GDP report due at 1230 GMT.

GOLD: Eyes Further Upside Pressure Towards 1,217.20 Zone

The commodity continues to hold on to its upside pressure closing higher on Monday and opening the door for additional gain.

GMT	Event	Vol.	Actual	Consensus	Previous
TUESDAY, AUG 28
13:00	USD S&P/Case-Shiller Home Price Indices (YoY)		6.3%	6.5%	6.5%
13:00	MXN Jobless Rate s.a		3.40%	3.38%	3.40%
13:00	MXN Jobless Rate		3.5%	3.5%	3.4%
14:00	USD Richmond Fed Manufacturing Index		24	18	20
15:30	USD 4-Week Bill Auction		1.93%		1.91%
17:00	USD 5-Year Note Auction		2.765%		2.815%
20:30	USD API Weekly Crude Oil Stock		0.038M		-5.170M
23:01	GBP BRC Shop Price Index (YoY)		0.1%		-0.3%
WEDNESDAY, AUG 29
24h	EUR Slovak National Uprising anniversary
05:00	JPY Consumer Confidence Index		43.3	43.4	43.5
06:00	EUR Gfk Consumer Confidence Survey			10.6	10.6
06:00	GBP Nationwide Housing Prices n.s.a (YoY)			2.7%	2.5%
06:00	GBP Nationwide Housing Prices s.a (MoM)			0.1%	0.6%
06:45	EUR Consumer Spending (MoM)			0.1%	0.1%
06:45	EUR Gross Domestic Product (QoQ)			0.2%	0.2%
07:00	TRY Trade Balance				-5.5B
07:00	TRY Economic confidence index				92.2
07:00	HUF Unemployment Rate (3M)				3.6%
08:00	EUR Purchasing Manager Index				56.8
08:00	CHF ZEW Survey - Expectations				-4
08:55	ISK CBI Interest Rate Decision				4.25%
11:00	USD MBA Mortgage Applications				4.2%
11:30	INR M3 Money Supply				9.8%
12:30	USD Gross Domestic Product Price Index			3.0%	3.2%
12:30	USD Gross Domestic Product Annualized			4.0%	4.1%
12:30	USD Personal Consumption Expenditures Prices (QoQ)			1.8%	1.8%
12:30	USD Core Personal Consumption Expenditures (QoQ)			2%	2%
12:30	CAD Current Account			-15.2B	-19.5B
14:00	USD Pending Home Sales (YoY)			-6.0%	-2.5%
14:00	USD Pending Home Sales (MoM)			0.4%	0.9%
14:30	USD EIA Crude Oil Stocks change			-0.522M	-5.836M
17:00	USD 7-Year Note Auction				2.93%
21:00	KRW BOK Manufacturing BSI				74
22:45	NZD Building Permits s.a. (MoM)				-7.6%
23:50	JPY Foreign investment in Japan stocks				¥-510.6B
23:50	JPY Foreign bond investment				¥-1,929.4B
23:50	JPY Retail Trade (YoY)			1.2%	1.7%
23:50	JPY Retail Trade s.a (MoM)			-0.3%	1.5%
23:50	JPY Large Retailers' Sales			-0.7%	1.5%
THURSDAY, AUG 30
24h	TRY Victory Day
01:00	NZD ANZ Activity Outlook				3.8%
n/a	AUD HIA New Home Sales (MoM)				2.2%
01:30	AUD Building Permits (YoY)				1.6%
01:30	AUD Building Permits (MoM)			-5.8%	6.4%
01:30	AUD Private Capital Expenditure			2.9%	0.4%
06:00	EUR Import Price Index (MoM)			0.1%	0.5%
06:00	EUR Import Price Index (YoY)			5.3%	4.8%
06:00	DKK Industrial Outlook				3
06:00	ZAR M3 Money Supply (YoY)				5.77%
06:00	ZAR Private Sector Credit				5.68%
06:00	NOK Retail Sales				-2.9%
07:00	EUR HICP (YoY)				2.3%
07:00	EUR HICP (MoM)				-1.2%
07:00	EUR Consumer Price Index (MoM)				-0.7%
07:00	EUR Consumer Price Index (YoY)				2.2%
07:00	EUR Producer Price Index (MoM)				0.4%
07:00	EUR Producer Price Index (YoY)				3%
07:00	CHF KOF Leading Indicator			101.5	101.1
08:00	EUR Unemployment Change			-8K	-6K
08:00	EUR Unemployment Rate s.a.			5.2%	5.2%
08:00	SEK Consumer Confidence (MoM)				99.8
08:30	GBP Net Lending to Individuals (MoM)			£5.2B	£5.4B
08:30	GBP Consumer Credit			£1.300B	£1.567B
08:30	GBP Mortgage Approvals			65.500K	65.619K
08:30	GBP M4 Money Supply (YoY)				1.7%
08:30	GBP M4 Money Supply (MoM)			0.4%	-0.3%
08:30	EUR Consumer Confidence				1.3
08:30	EUR Business Confidence				2.5
09:00	EUR Producer Price Index (YoY)				8.2%
09:00	ISK Consumer Price Index (YoY)				2.7%
09:00	ISK Consumer Price Index (MoM)				0%
09:00	EUR Consumer Confidence			-0.6	-1.9
09:00	EUR Services Sentiment			15.2	15.3
09:00	EUR Industrial Confidence			5.9	5.8
09:00	EUR Business Climate			1.25	1.29
09:00	EUR Economic Sentiment Indicator			112.2	112.1
09:30	ZAR Producer Price Index (MoM)			0.4%	0.9%
09:30	ZAR Producer Price Index (YoY)			5.2%	5.9%
09:45	EUR 10-y Bond Auction				2.87%
n/a	EUR 5-y Bond Auction				1.8%
11:00	BRL Inflation Index/IGP-M
11:00	EUR Consumer Price Index (YoY)				2.17%
11:00	EUR Consumer Price Index (MoM)				0.38%
12:00	EUR Consumer Price Index (YoY)			2%	2%
12:00	EUR Harmonized Index of Consumer Prices (YoY)			2.0%	2.1%
12:00	EUR Consumer Price Index (MoM)			0.1%	0.3%
12:00	EUR Harmonized Index of Consumer Prices (MoM)			0.1%	0.4%
12:00	CLP Industrial Production (YoY)				7.2%
12:30	USD Core Personal Consumption Expenditure - Price Index (YoY)			2.0%	1.9%
12:30	USD Personal Spending			0.4%	0.4%
12:30	USD Personal Consumption Expenditures - Price Index (MoM)			0.1%	0.1%
12:30	USD Personal Income (MoM)			0.3%	0.4%
12:30	USD Core Personal Consumption Expenditure - Price Index (MoM)			0.2%	0.1%
12:30	USD Personal Consumption Expenditures - Price Index (YoY)			2.2%	2.2%
12:30	USD Continuing Jobless Claims			1.766M	1.727M
12:30	USD Initial Jobless Claims			213K	210K
12:30	CAD Gross Domestic Product Annualized (QoQ)			3.0%	1.3%
12:30	CAD Gross Domestic Product (MoM)			0.2%	0.5%
13:00	RUB Central Bank Reserves $				$452.2B
14:30	USD EIA Natural Gas Storage change			34B	48B
17:30	EUR German Buba President Weidmann speech
19:00	ARS Industrial Output n.s.a (YoY)
23:00	KRW Industrial Output Growth				-0.6%
23:00	KRW Industrial Output (YoY)				-0.4%
23:00	KRW Service Sector Output				0.2%
23:01	GBP Gfk Consumer Confidence			-9	-10
23:30	JPY Tokyo CPI ex Fresh Food (YoY)			0.7%	0.8%
23:30	JPY Tokyo Consumer Price Index (YoY)			0.8%	0.9%
23:30	JPY Tokyo CPI ex Food, Energy (YoY)			0.5%	0.5%
23:30	JPY Unemployment Rate			2.3%	2.4%
23:30	JPY Jobs/applicants ratio			1.62	1.62
23:50	JPY Industrial Production (YoY)			1.0%	-0.9%
23:50	JPY Industrial Production (MoM)			8.7%	-1.8%
FRIDAY, AUG 31
01:00	CNY Non-manufacturing PMI			54.8	54.0
01:00	CNY NBS Manufacturing PMI			51.3	51.2
01:00	KRW BoK Interest Rate Decision				1.5%
01:30	AUD Private Sector Credit (YoY)				4.5%
01:30	AUD Private Sector Credit (MoM)			0.4%	0.3%
05:00	PEN Inflation
05:00	JPY Housing Starts (YoY)			-3.8%	-7.1%
05:00	JPY Construction Orders (YoY)				-6.5%
05:00	JPY Annualized Housing Starts				0.915M
06:00	EUR Retail Sales (YoY)				3%
06:00	EUR Retail Sales (MoM)			1.0%	1.2%
06:00	DKK Unemployment Rate				3.2%
06:00	DKK Gross Domestic Product (QoQ)				0.4%
06:00	NOK Credit Indicator				5.8%
06:45	EUR Producer Prices (MoM)				0.1%
06:45	EUR Consumer Price Index (EU norm) (MoM)			0.5%	-0.1%
06:45	EUR Consumer Price Index (EU norm) (YoY)				2.6%
07:00	EUR Retail Sales (YoY)				0.1%
07:00	EUR Gross Domestic Product (QoQ)				0.7%
07:00	HUF Producer Price Index (YoY)				7.5%
07:00	HUF Trade Balance				€1,070M
07:00	CZK Gross Domestic Product (YoY)				2.3%
08:00	EUR Unemployment			10.8%	10.9%
08:00	PLN Consumer Price Index (YoY)			2%	2%
08:00	PLN Consumer Price Index (MoM)			-0.1%	-0.1%
09:00	EUR Consumer Price Index (YoY)			1.4%	1.5%
09:00	EUR Consumer Price Index (EU Norm) (YoY)			1.6%	1.9%
09:00	EUR Consumer Price Index (MoM)			0.2%	0.3%
09:00	EUR Consumer Price Index (EU Norm) (MoM)			-0.1%	-1.4%
09:00	PLN Gross Domestic Product Qtr (YoY)			5.1%	5.1%
09:00	EUR Current Account Balance				€2.44B
09:00	EUR Retail Sales (YoY)				4.6%
09:00	EUR Unemployment Rate			8.2%	8.3%
09:00	EUR Consumer Price Index - Core (MoM)				-0.5%
09:00	EUR Consumer Price Index - Core (YoY)			1.1%	1.1%
09:00	EUR Consumer Price Index (MoM)				-0.3%
09:00	EUR Consumer Price Index (YoY)			2.1%	2.1%
09:00	NOK Registered Unemployment s.a				83.93K
09:00	NOK Registered Unemployment n.s.a				2.5%
10:00	EUR Gross Domestic Product (QoQ)			0.2%	0.2%
10:00	EUR Gross Domestic Product (YoY)			1.1%	1.1%
10:00	EUR Gross Domestic Product (YoY)			2.3%	2.3%
10:00	EUR Gross Domestic Product (QoQ)			0.5%	0.5%
10:00	INR Federal Fiscal Deficit, INR
10:00	INR Federal Fiscal Deficit, INR				4,290.33B
11:30	INR Bank Loan Growth				12.7%
11:30	INR FX Reserves, USD				$400.85B
12:00	BRL Unemployment Rate				12.4%
12:00	CLP Unemployment rate				7.2%
12:00	ZAR Trade Balance (in Rands)				12B
12:30	CAD Raw Material Price Index			-0.3%	0.5%
12:30	CAD Industrial Product Price (MoM)			0.0%	0.5%
13:00	EUR Gross Domestic Product (QoQ)				0.3%
13:30	BRL Primary Budget Surplus
13:30	BRL Nominal Budget Balance
13:45	USD Chicago Purchasing Managers' Index			63.0	65.5
14:00	USD Michigan Consumer Sentiment Index			95.9	95.3
15:00	COP National Jobless Rate				9.1%
17:00	USD Baker Hughes US Oil Rig Count				860
19:30	USD CFTC Oil NC net positions				538.8K
19:30	USD CFTC Gold NC net positions				$-8.7K
19:30	USD CFTC USD NC net positions				$124.2K
19:30	GBP CFTC GBP NC net positions				£-72.3K
19:30	JPY CFTC JPY NC net positions				¥-47.4K
19:30	EUR CFTC EUR NC net positions				€-4.8K
19:30	AUD CFTC AUD NC net positions				$-50.2K
20:00	COP Interest rate				4.25%
22:30	AUD AiG Performance of Mfg Index				52
SATURDAY, SEP 01
00:00	KRW Trade Balance				$6.91B

                            Start Trading with Free $30    : CLAIM NOW $30

      

VERIFY YOUR ACCOUNT AND GET YOUR $30 INSTANTLY ,MAKE MONEY WITHDRAW !!

               IT IS POSSIBLE TO SHIFT FROM $30  TO  $1,000,000  TRY  TODAY

IF  YOU  FACE  ANY  PROBLEM  TO  GET  THIS  OFFER  PLEASE CONTACT US FOR

SUPPORT ,  CLICK  SMS  BAR  ABOVE  THEN  TALK  TO  US.