US and allies strike Syria

1. The US and other western allies carried out a missile attack on Syria in the early hours of Saturday morning.
2. The attack was hailed by the US president with the twit “Mission accomplished” and is currently regarded as a once of event.
3. On the other hand Russia warned that “global chaos” will follow, should there be a second strike on Syria.
4. For the time being we see the case for some calming activities as the UK foreign minister stated that no new attacks are planned.
5. Should there be any further negative headlines, we could see safe havens on the rise again, or else the USD could strengthen.

Brexit negotiations on thorny trade issue

1. Brexit negotiations are to resume again this week according to media reports and the subject will be the EU-UK trade relationships.
2. The sessions are to cover also the unresolved issue of the Irish border.
3. Until now, the EU had rejected the UK “cherry picking” strategy on trade relationships while the UK considers EU to be inflexible.
4. Should there be negative headlines about the issue we could see the pound weakening.

Today’s other economic highlights

• US: NY Empire State Manufacturing Index for April, Survey:20.10 Prior:22.50, 12:30 GMT, could weaken the USD
• Retail Sales for March, Survey:+0.3% mom Prior:-0.1% mom, 12:30 GMT, could strengthen the USD
• Core Retail Sales for March, Survey:+0.3% mom Prior:+0.2%mom, 12:30 GMT, could strengthen the USD
• Speakers: FOMC member Raphael Bostic (17:15 GMT) speaks.

As for the rest of the week

• On Tuesday, we get RBA’s meeting minutes, the UK employment data for February China’s GDP for Q1 and Germany’s ZEW Economic Sentiment indicator.
• On Wednesday, the UK inflation data for March along with Japan’s Trade Balance figures and BoC’s Interest rate Decision will be released.
• On Thursday, we get New Zealand’s CPI rate for quarter 1 and Australia’s employment data for March.
• On Friday, Japan’s and Canada’s inflation data for March, as well as Eurozone’s Consumer Confidence preliminary indicator for April.

Check out the full Daily Market Report by IronFX from below today!

IronFX Daily Market Report