US stocks are expected to open lower today. The main reason for the decline in risk assets is investor caution before the upcoming US Donald Trump meeting and China's President Xi Jinping at the G-20 meeting this Sunday.
The week was good as J.Powell sent the shares up a lot and now there is likely to be profits taking, which in turn could lead to even bigger stock market declines today.
The minutes of the FED meeting yesterday also contributed to negativism before the start of the session, making it clear that the US Federal Reserve is likely to continue with interest rate hikes. This time at least a slight reassurance may be that bankers are still concerned about the effect that will result in such a policy of tightening.
Today, we do not expect major economic news during the session, as only we will wait for the Canada's GDP data at 15:30, which coincides with the launch of interbank trading in the US, and there is likely to be a USDCAD volatility that we can benefit from.
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