UK PM May doing ‘fantastic’ job on Brexit, says Trump, promising trade deal (news: 13/07/18)

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Alpari Market Review
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Today’s press

UK PM May doing ‘fantastic’ job on Brexit, says Trump, promising trade deal

CHEQUERS, England (Reuters) – U.S. President Donald Trump said on Friday he looked forward to finalizing a post-Brexit trade deal with Britain, marking an abrupt change from a newspaper interview when he said Prime Minister Theresa May’s strategy would kill such an agreement.

China’s trade surplus with U.S. hits record as exporters rush to beat tariffs

BEIJING (Reuters) – China’s trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace, a result that could further inflame a bitter trade dispute with Washington.

U.S. import prices drop the most in over two years

WASHINGTON (Reuters) – U.S. import prices fell the most in more than two years in June as prices for petroleum products fell and a strong dollar weighed on the costs of other goods, pointing to benign import inflation pressures.

U.S. Consumer Sentiment Falls in July as Tariff Worries Escalate

Investing.com – U.S. consumer sentiment was on the decline, hitting a six-month low, as tariff worries more than doubled, dampening optimism over the economy, according to a report published Friday.

Bank of England deputy governor Sir Jon Cunliffe warns against interest rate hike

A deputy governor of the Bank of England has cautioned against raising interest rates too fast, suggesting that a hike in August by the central bank is not a foregone conclusion.

Why banks aren’t lending at single digit interest rate – CBN

The Deputy Governor, Economic Policy, Central Bank of Nigeria, Dr Joseph Nnanna, on Thursday blamed the inability of Deposit Money Banks to lend at single digit interest rate on the attractiveness of treasury bills, an instrument used by the government to borrow from the money market.

Next trading day’s important events

05:00 (GMT+3)  CN – Gross Domestic Product (YoY) (Q2)

n/a (GMT+3)  US – Trump – Putin meeting

15:30 (GMT+3)  US – Retail Sales ex Autos (MoM) (Jun)

Forex quotes:

USDJPY: 112.42

EURUSD: 1.1662

Indices:

S&P 500: 2803.06

NASDAQ: 7833.69

 

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