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Market Update

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

NAFTA Talks Pause | Greenback Slides

Published September 21, 2018
  • Canadian Foreign Affairs Minister Chrystia Freeland has wrapped another round of trade talks with her American counterpart and both are still unable to resolve their NAFTA differences. Freeland said tough issues were addressed and made it clear she will not be bound by the looming deadline.
  • The dollar has fallen across the board due to a resurgence in global risk appetite after the US and China announced new import tariffs this week that were less harsh than expected, curbing safe-haven demand for the greenback. The US Dollar Index dropped to 93.81 levels.
  • Prime Minister Theresa May promised fresh plans to break the stalemate in Brexit negotiations after European Union leaders bluntly rejected her blueprint and warned that time is running out for striking a deal.
  • Oil prices rose ahead of the meeting between OPEC and other large crude exporters that will focus on production increases as US sanctions restrict Iranian exports. Brent crude prices had hit a high of $79.65.