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Inching closer

Today’s news headlines:

‘Barnier and Frost hint at space for compromises in Brexit trade talks’. The UK and EU might finally be heading towards a post-Brexit trade deal after positive comments from officials on both sides. Officials have spoken for the need of compromise on the remaining issues, with David Frost commenting that the UK is willing to ‘go further than you normally do in a free trade agreement’ on the EU’s demands of a level playing field. On the other side of negotiations, Michel Barnier has urged EU member states to show some flexibility on fishing rights to unlock a deal. (Financial Times)

‘Pence and Harris clash over US coronavirus response’. In last night’s Vice-Presidential debate, Mike Pence and Kamala Harris clashed over President Trump’s response to the coronavirus pandemic, with Senator Harris calling it ‘the greatest failure’ in the history of the Presidency. The debate was marked by a lot of side-stepping of questions meaning it’s unlikely to change the tide of the race, in which Biden currently holds a commanding lead. (Financial Times)

Today's events, rates, and data 

  • US stocks moved higher yesterday, reversing the previous day’s losses after Trump appeared to return Republicans to the negotiating table on the US fiscal stimulus bill. The US Dollar moved lower on the news as risk-sentiment improved; meanwhile, the Kiwi Dollar was the biggest loser among G10 currencies after central bank officials hinted that negative interest rates are on the horizon.

Today's events

UK BoE Governor Andrew Bailey Speaks: 8.25am
ECB Monetary Policy Meeting Accounts: 12.30pm
Canada BOC Governor Tiff Macklem Speaks: 1.30pm
US Weekly Jobless Claims: 1.30pm

Interbank rates:

GBP/USD: 1.2945
GBP/EUR: 1.0995
EUR/USD: 1.1775
USD/CAD: 1.3240