Today we expect an active day with a large number of macroeconomic reports, mainly from the United States. Traditionally, the news from Australia comes first. As it became known, the trade surplus in July was according to forecasts. Commodity currencies and risky assets today are more expensive because the market is dominated by optimism associated with the beginning of a new round of negotiations between China and the United States in October. Also, investors were pleased with the successful blocking of a hard Brexit. The yen was under the greatest pressure and weakened significantly against major currencies. Gold is also under pressure, but is held at a high level of 1540+.
In the afternoon, we expect reports on employment in the United States, as well as the level of productivity in the non-agricultural sector, the PMI composite index of business activity, the volume of orders for durable goods and, of course, data on oil reserves in the United States. There is every reason to expect optimism to persist at least until the end of the week, especially if today's and tomorrow's reports on the US economy meet the expectations of investors.
