In a Presidency marked by violating norms, President Trump’s comments talking up today’s US Q2 Advance GDP report were hardly surprising. During a rally at a steel plant in Illinois, the President noted that,

Market events to watch for the week of July 16

While the focus of the wider market will undoubtedly remain largely on Italy and the ongoing volatility in the bond and stock markets, some forex traders’ focus will momentarily turn away from politics and back to economic fundamentals today. That’s because we have key data coming from the United States later on today while the Bank of Canada is also scheduled to make a rate announcement.

Market events to watch this week

Chinese data shrugged off as equity markets edge slightly lower; sterling under pressure as pressure on May mounts; central banks event sees Fed, ECB, BoJ and BoE heads join panel discussion; German GDP and inflation data get us off to an underwhelming start.

Sterling tumbled against the Dollar on Tuesday, after cautious comments from Bank of England Deputy Governor, Jon Cunliffe, rattled market expectations of an interest rate hike next month.

The GBP/CAD might not be everyone’s cup of tea but this pair will be or remain in focus today as traders respond to economic news from both the UK and Canada.

In the 2015 October edition of the Market Overview, we analyzed the impact of the Chinese slowdown, as well as the stock market crash and the devaluation of yuan, on the gold market.

Equities across the Asian markets were trading in a tight, narrow range on Thursday, ignoring solid Chinese data and the new records on the financial market, where the Dow Jones Industrial Average breached 23,000. FX markets are also struggling for direction, as traders look for signals from EU politics, and signs for who will lead the Federal Reserve.