Markets opened the week confidently, in what promises to be a very productive week, following last week’s gains. The US inflation number was cool enough, to ensure a Fed rate cut this week. The lead up to that decision should be largely positive speculation, while Trump visits Asia and the APEC meeting, at the end of the week. Trump is also expected to meet with Chinese President Xi and perhaps conclude a trade deal. The US Dollar eased allowing the EUR to rise to 1.1640, while the consolidates above 1.3300.Commodity currencies were beneficiaries of the softer reserve, with the AUD leaping above 0.6550, while the NZD regained 0.5750. Positive sentiment in the Asia Pacific region, leading into the APEC summit, with trade the focus.
