What’s in Today’s Report:
- U.S./China Trade Update – Nothing Has Changed (And That’s Good)
- Why the Reserve Bank of India Matters to You (And Your Clients)
Futures are modestly lower on momentum from Thursday’s declines following mixed economic data overnight.
German exports beat estimates and rose 1.5% vs (E) -0.3%, finally giving the EU a good economic data point. But, Japanese Household Spending rose 0.1% vs. (E) 1.0% so the economic news wasn’t all good.
There was no notable geo-political or trade related news overnight and given there are no economic reports today, and only one Fed speaker (Daly at 1:15 p.m. ET), focus will remain on any new U.S./China trade headlines. That could lead to some more volatility, but as long as Mnuchin and Lighthizer are going to China next week (which it appears they still are) then we’re still getting progress on a U.S./China trade deal.