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Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

Markets Await US-China Trade Talk Result | Canada Retail Sales Fizzle

Published February 22, 2019
  • Global Markets continue to closely watch high-level talks between US and Chinese trade negotiators in Washington, with little more than a week left before a US imposed deadline for an agreement expires, triggering higher tariffs. Chinese Vice Premier Liu He is scheduled to meet with President Donald Trump at the White House on Friday.
  • Canadian Retails Sales fell -0.1% in December from -0.9% in November, the most sluggish back to back monthly performance, largely driven by falling gasoline prices, Statistics Canada said on Friday.
  • Minutes from the January ECB meeting showed policymakers had a downbeat view on Eurozone economy considering soft set of data and persistent weakness could weigh on inflation expectations. The ECB had also acknowledged that while data had been weaker than expected, financial conditions had been eased by markets shifting expectations for ECB rate lift-off.
  • Bank of Canada Governor Stephan Poloz reiterated his belief that borrowing costs are still likely to go higher and central bank is keeping a close tab on developments in the nation’s housing market, as well as global trade tensions and the impact of lower oil prices, as he gauges the timing of his next interest rate increase.