In the European session, the only highlight was the UK Retail Sales report. The data once again beat expectations but it didn’t change anything in terms of interest rates expectations given that the BoE is now more focused on inflation. We have also BoJ’s Ueda Press Conference coming up at 06:30 am GMT and that’s going to be interesting following the two dissenters today that voted for a hike. If Ueda downplays the dissent and sounds more patient on a rate hike, then we could see the JPY gains evaporate. In the American session, we get the Canadian Retail Sales report. The consensus sees -0.8% in July vs 1.5% in June, and the ex-Autos m/m measure at -0.7% vs 1.9% prior. The data is unlikely to change anything for the BoC, so the market reaction will likely be muted.Finally, we have the Trump-Xi call today scheduled for 09:00 am ET/13:00 pm GMT. This will be the first engagement since June with the topics including trade, tiktok and tech. Analysts expect limited agreements, so it might just reaffirm what we already heard from the US-China talks in Madrid earlier in the week. This article was written by Giuseppe Dellamotta at investinglive.com. Source: investinglive.com (Read Full Article)

Japan’s economy is recovering moderately albeit with some weaknessEconomic growth likely to moderate as trade policies lead to slowdown in overseas economiesEasy monetary conditions will support the economyEconomic growth likely to rise thereafter with overseas economies returning to moderate growth pathImpact of rising food prices likely to dissipateWill continue to raise policy rate if economy, prices move in line with forecastsImportant to judge whether outlook will be achieved without any preconceptionWell, he’s not really offering anything new nor changing things up from their previous communique. That does say quite a bit despite some hawkish dissents in the vote. For now, the overall language has yet to see anything different. USD/JPY is trimming losses to 147.80 now from around 147.20 earlier at the tail end of Asia trading. This article was written by Justin Low at investinglive.com. Source: investinglive.com (Read Full Article)

Japan’s economy is withstanding US tariffs impactNot seeing any material impact on capex, wages, and job trendsNo need to revise July outlook report figuresUncertainty remains over impact of US trade policies on forexWill thoroughly examine tariffs impact on the economy, including firms’ responseOverall, still nothing new from Ueda thus far as he is just mostly reaffirming their views on the outlook towards the economy and inflation. Or should I say perhaps just the majority view that is. This article was written by Justin Low at investinglive.com. Source: investinglive.com (Read Full Article)