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Buy the rumour

Today’s news headlines:

‘Brexit teams race against clock as trade talks enter final straight’. Brexit negotiating teams will meet on Tuesday for three days in order to race towards a potential deal. The purpose of this week's negotiations is to arrive at a rough agreement that could then be reviewed by high-level advisors from each side during the week of October the 4th. (Financial Times)

‘Report says Trump paid no income tax for 11 years’. The New York Times has reviewed the President's tax records for the past 18 years and found that he paid no federal income tax in 11 of those years. It was also revealed that his real estate empire had been loss-making for years and had been dependent on his The Apprentice revenues. The report goes on to detail scandalous debts and questionable practices in his tax accounting. (Financial Times)

Today's events, rates, and data 

  • Last Friday, we received some poor Durable Goods Orders data from the US, driving a mild-risk off stance, strengthening the Dollar. Rumours of Brexit progress have been supporting the Pound, which has been making modest gains for the past several days. Today is a very light data day, so the focus remains on the political sphere given today’s tantalising headlines.

Today's events

EU  European Central Bank President Christine Lagarde speaks: 2:45 PM
US  Federal Open Market Committee Member Loretta Mester speaks: 7:00 PM

Interbank rates:

GBP/USD – 1.2770
GBP/EUR – 1.0980
EUR/USD – 1.1625
USD/CAD – 1.3390