Ed Moya kicks off today by sharing his thoughts on the Canadian election results and what that means for the Canadian economy and monetary policy in Canada. We also comment on the US markets and general shift we have seen toward more risk on assets.
Ed Moya, Senior Market Analyst at OANDA joins me to recap the recent mixed data that is shinning a light on the US consumer. The weak retail sales data is a negative sign but the strong bank earnings are telling a different story. These are both back looking data points but they are important to note as the consumer has been the main support leg for the US economy. We also wrap with comments on the extreme volatility in the Pound all thanks to the recent Brexit advancements.
Ed Moya, Chief Market Analyst at OANDA kick off today by recapping some of the major geopolitical events that are weighing on markets. It has been a continued story where politics are playing a major roll in market moves. The biggest change is that these political factors are sticking around from prolonged periods of time. We discuss the trade war between the US and China and recent events in Iraq and Ecuador that factor into the oil market.
After a disappointing ADP jobs number today that was preceded by the weak manufacturing data yesterday the overwhelming factor pointed to is global growth concerns. As much as Trump wants to push on the Fed to lower rates business are not willing to borrow more money and invest when the global outlook is so cloudy.
Ed Moya, Senior Market Analyst at OANDA joins me to focus on this overwhelming point. We look to the sectors that are showing this as well as some of the upcoming political events that have the potential to either clear up the situation or drive the world further into a recession.
Ed Moya, Senior Market Analysts at OANDA joins me to outline the major driver in the markets. These drivers all revolve around politics ranging from Brexit to trade wars, and now US political issues. The markets have been reacting by selling risk on and continuing to shift into risk off.
Ed Moya, Senior Market Analyst at OANDA joins me for a look at the volatility in the oil price and the upcoming Fed statement tomorrow. With geopolitical dark clouds hanging over a number of markets we are seeing investors continue to diversify into a wide range of assets. As for the Fed, they are very market reactive and even with markets near all time highs and recent inflation data at and above the 2% target the expectation is still for a 25 basis point cut.
Ed Moya, Chief Market Analyst at ONANDA joins me today for a look at the moves in the markets. We are seeing a continuation of fears in the market as US markets are selling off and the dollar and precious metals are moving higher. A lot of the fear revolves around the ongoing trade war between the US and China. For as negative as everyone is Ed shares some thoughts on how it could get better in the near term.
Ed Moya, Chief Market Analysts at OANDA joins me to update us on the progress of Brexit. With the October 31st deadline looming the market, as per Sterling, is pricing in a no-deal Brexit. Just how likely is this and where could Sterling drop to if it happens? We also look into the precious metals and how they continue to move higher and more importantly why.
Ed Moya, Senior Market Analyst at OANDA joins me to share his thoughts on the US markets and all the recession fears that are on investors minds. Most importantly for this week we look ahead to major events that could drive markets, these include the Jackson Hole meeting and the G7 summit over the weekend.
Ed Moya, Senior Market Analyst at OANDA joined me today to share his thoughts on the selloff in stocks. Trade is a major issue but central banks also issuing warnings about global growth through their actions are seriously shifting money flows.