Hawkish Fed Sentiments Overshadowed By N. Korea, Brexit and German Elections
Chancellor Angela Merkel has won a fourth term as the German Prime Minister, and is now expected to form a coalition popularly known as the ‘Jamaica Coalition’, with the Liberals and the Greens.
Market Focus is now on German IFO Survey (September) and ECB President Mario Draghi’s testimony about the EuroZone Economy, and Monetary Developments before the European Parliament Economic and Monetary Affairs Committee.
Data released early Monday showed Japan Nikkei Manufacturing PMI came in below expectations at 52.6. USDJPY has completed a Bearish Cypher Pattern which adds scope for downside.
Euro fell against Dollar by close of the Wall Street Session Friday. Sterling declined while Canadian Dollar edged higher.
Monday Potential Catalysts
German Ifo Business Climate Index (Sep) 4:00AM ET – High Impact
German Business Climate (Sep) 4:00AM ET – Medium Impact
New Zealand Trade Balance (MoM) (Aug) 5:45PM ET – Medium Impact
New Zealand ANZ Business Confidence (Sep) 9:00PM ET – Medium Impact
Central Bank Speak
ECB President Mario Draghi Speaks 9:00AM ET – High Impact
Minneapolis Fed President Neel Kashkari Speaks 6:30PM ET – Medium Impact
Japan’s Monetary Policy Meeting Minutes 7:50PM ET – Medium Impact