The separatist counteroffensive in Eastern Ukraine means violence and sanctions will be a main theme in the day ahead but the underlying story US economic improvement and European malaise continues. Last week the Canadian dollar was the top performer while the euro lagged. CFTC positioning data showed more sellers in the euro and yen.
The Ukraine counteroffensive has put the region back on the front pages and Western leaders are already talking about fresh sanctions. A round of risk aversion on an escalated war of words or any dramatic developments on the ground could rattle markets. On the weekend, Putin called for Eastern Ukrainian “statement” but a Kremlin spokesman appeared to take back the remarks.
Latest Hot-Chart - Jun 12
World Cup & Market Patterns
9 of the last 13 World Cup tournaments elapsed during a period of falling stocks, with an average decline of 6% from the first to the final match. But see what happens in post-WorldCup Octobers.
ECI Enforces USD Dynamics
Despite the several US economic releases this week (July ADP on private sector jobs, Q2 GDP, Fed decision and July non-farm payrolls and unemployment), the Q2 employment cost index released on...