Markets Await Fed Speech, US-China Trade Talks
Tuesday is a quiet day trading in terms of economic data releases as the focus remains on politics and the US-China trade talks this Thursday and Friday. The US dollar held steady as investors wait for fresh headlines. China is reportedly ready to do a broad deal with the US but refuses to discuss the sensitive issues.
In the Brexit, negotiations continue in Brussels amid low expectations. It is reported that PM Boris Johnson is preparing for a no-deal, especially after the EU rejected his new Brexit proposal. The Pound extended the sell-off paired with low sales data.
Federal Reserve Chair Jerome Powell will speak late in the day, and he may address monetary policy. Hints if the Fed will cut rates later this month are eyed by markets.
NOTE: Traders are advised to be cautious and be updated on the major economic news causing high volatility to achieve better trading results.
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