Never miss a story from Ilya Spivak

Subscribe to recieve updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Ilya Spivak

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

TALKING POINTS – SCOTLAND, POUND, YEN, AUSSIE DOLLAR, CHINA, US DOLLAR

  • Pound drops on pledge to restart Scotland independence push
  • Aussie Dollar up, Yen down as US/China tensions de-escalate
  • Carry appeal may boost the US Dollar in broadly risk-on trade

The British Pound declined as Scotland First Minister Nicola Sturgeon pledged to “restart” her campaign for secession from the UK. She is due to unveil a revamped economic policy framework this week, and hinted it would be an “important moment” in the move toward Scottish independence. That stoked speculation that Sturgeon will call for the use of Sterling to be discontinued in favor of a national, Scottish currency.

The Australian Dollar soared alongside stocks while the perennially anti-risk Japanese Yen declined as Asia Pacific markets began the trading week in a chipper mood. That seems to reflect the apparent cooling of commercial tensions between the US and China. The Trump administration tabled new tariffs in exchange for China’s pledge to “significantly increase purchases” of US-made goods.

The Canadian Dollar rose despite comments from Treasury Secretary Mnuchin saying NAFTA negotiators are still “far apart”. The move appears corrective after the currency’s laggard performance Friday. That followed soft inflation data and another warning about slow progress in NAFTA talks, this time from US Trade Representative Robert Lighthizer.

Looking ahead, an empty data docket in Europe and a lackluster one in the US will likely leave sentiment trends in control. FTSE 100 and S&P 500 futures are pointing convincingly higher, hinting at a risk-on bias that bodes ill for funding currencies such as the Yen and the Swiss Franc. On the other hand, the US Dollar may rise as the lone beneficiary of an overtly hawkish central bank in the G10 FX space.

See our free guide to learn how to use economic news in your trading strategy!

ASIA PACIFIC TRADING SESSION

Asia Pacific Trading Session Economic Calendar

EUROPEAN TRADING SESSION

No data.

** All times listed in GMT. See the full economic calendar here.

FX TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter