Geo-political tensions are continuing to rise as seen by the recent terror attack and Donald Trump’s presidential calamity’s. As these tensions grow, the markets have seen a strengthening in safe haven currencies. The most recent event was the terrorist attack which took place Monday evening in Manchester. A homemade bomb was set off by the suicide bomber in the foyer of the Manchester Arena, killing 22 and injuring 59 others. The Islamic State has claimed they were behind the attack. Global leaders and public figures have expressed their condolences and their desire for unity. The UK raised the UK's terror threat level over night to ‘critical’, the highest of the levels, meaning further attacks may be imminent.
Donald Trump started the week by visiting the Middle East. He has committed to help the Israelis and Palestinians achieve peace and commended the Palestinian leader on committing to take the necessary steps to help fight terrorism. However, his tour has not been all positive. Many Palestinians didn’t agree with Trump’s visit and staged protest at military checkpoints around the West Bank. Trump blamed Iran for the instability within the region and mentioned how they will never have nuclear weapons. Trump's tour continues over the next few days, he will be meeting with Pope Francis, Nato leaders and the G7 members.
There is a limited amount of data on the economic docket today, however we do have many central bank speeches throughout the day.
Firstly, the European Central Bank's President Draghi will be speaking at the First Conference on Financial Stability in the afternoon.
Further, this evening, the FOMC will be releasing the meeting minutes from their latest meeting. This happens about eight times a year and will give an insight into the reason behind the latest interest rate decision to keep the rates on hold.