Forex Focus on US Existing Home Sales and Canadian Retail Sales

European trading session starts with the Spanish Trade Balance due at 8GMT, while the GBPUSD traders will follow the Public Sector Net Borrowing and Public Sector Net Cash Requirement data at 8:30GMT.

In the American forex calendar we have the Mexico Unemployment Rate due at 11:00GMT. In the USA  the Existing Home Sales, Richmond Fed Manufacturing Index and Richmond Fed Manufacturing Shipments will be released at 14:00GMT. In Canada, the Retail Sales m/m and Core Retail Sales m/m will be out at 12:30. The BoC Business Outlook Survey will be released at 14:30GMT.

In Canada’s election the Liberals will form a minority government according to latest TV projections.

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Asian equity indices are trading higher today; Hang Seng is 0.15% higher at 26,765 and Singapore Straits Times is 0.80% higher at 3,164. EURUSD trades 0.03% higher at 1.1152; the USDJPY is 0.03% higher at 108.64 while the AUDUSD is 0.09% higher at 0.6874.

The central bank of China set the Yuan rate (USDCNY) at 7.0668 versus yesterday settlement at 7.0680.

Trade tensions between China and the US and the recent developments will continue to have a significant impact on forex markets. Brexit developments will be the main force that drives Pound.

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