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Market Update

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

Trump Leaves for NATO | Alberta to Take Stake in Trans Mountain Pipeline

Published July 10, 2018
  • The US president will be off to his European tour this week in Brussels, where he will speak with partners in the North Atlantic Treaty Organization regarding their defense budgets. Though many in the 29-country organization have already increased spending, Trump has singled out Germany for “owing billions.”
  • Brett Kavanaugh is set to succeed Justice Anthony Kennedy on the US Supreme Court, potentially creating the most conservative judicial body in generations.
  • Theresa May seems to have come out of the latest Brexit crisis with her government intact, despite the resignations of two of her most senior ministers in one day. Lawmakers warned that she could split the Conservative Party trying to get her plan through parliament. Without a parliamentary majority, May can only pass legislation if her party is united.
  • Alberta Premier Rachel Notley said the province is likely to take a stake in the Trans Mountain pipeline, which is being purchased by Canada’s federal government in an effort to make sure that the key conduit’s expansion moves forward.
  • President Trump is eyeing tariffs on another $16 billion of Chinese goods, and indicated last week that the final total could surpass $500 billion. The results will not only hit economic and trade cooperation between China and the US, but will also bring further uncertainty to the world economy.