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$USDX-SEP26 Coming data today might shake the markets: In the United States, the Core PCE Price Index YoY measures the annual percentage change in prices paid by consumers for goods and services, excluding food and energy prices. It is the Federal Reserve's preferred measure of inflation, reflecting underlying inflationary pressures. A higher than expected figure should be seen as positive (bullish) for the USD while a lower than expected figure should be seen as negative (bearish) for the USD.
USA-Canada - we spoke about it in the morning sessions:
What is Trump’s issue with the French language in Canada?
The issue is related to the latest dispute between Donald Trump and Canada over the protection of the French language in Quebec. It is part of a much broader political and trade conflict between Trump and the Canadian government.
What does Trump object to in Quebec?
Quebec is unique within Canada because French is its official language. For decades, Quebec authorities have introduced laws designed to protect French from the dominance of English.
In recent years, Quebec has tightened these rules further. Among other things, certain businesses operating in Quebec are required to use French when dealing with customers and employees.
Why is Trump getting involved?
The dispute is not really about the French language itself.
The Trump administration argues that Quebec's increasingly strict language regulations create additional barriers for American companies operating in the province.
From Washington's perspective, this is another example of Canadian regulations making it more difficult for American businesses to operate in Canada.
This comes on top of Trump's broader complaints about Canada:
U.S. tariffs on Canadian products,
disputes over trade,
Trump's criticism of Canada's economic policies,
and his controversial statements about Canada potentially becoming the 51st U.S. state.
Why is this so sensitive in Quebec?
For Quebecers, French is much more than just a language. It is a central part of Quebec's cultural and national identity.
Quebec has a long history of tensions between its French-speaking majority and the English-speaking population of Canada. There has also been a strong separatist movement advocating Quebec's independence.
Therefore, when Washington appears to challenge Quebec's language laws, many Quebecers see it as foreign interference in an issue that is fundamental to their identity.
The irony for Trump
There is an interesting political paradox here.
Trump's pressure on Canada may actually be strengthening Canadian unity.
Quebec has traditionally had a significant separatist movement. However, pressure from Trump and the United States has made independence less attractive to some Quebecers because they do not want Quebec to become economically or politically vulnerable to the United States.
So, in a sense, Trump's attempt to put pressure on Canada may be having the opposite effect:
Trump wants to weaken Canada's position, but his pressure may be encouraging Canadians — including Quebecers — to unite more strongly against the United States.
Hello Friday- time for a scalping session beginners room 8-9 GMT+1
Today 2 live sessions- first in beginners room 10-11 GMT+1 -OPOS strategy
An inside bar has appeared on the EURUSD pair. The price is breaking downwards, and the MACD is falling. If the price does not return above 1.1586 by the end of the H4 candle, the MACD will remain bearish and may signal a correction of the recent gains.
hello Monday, time for a scalping session. Live in beginners room 10-11 GMT+1
BOJ reportedly set for a September rate hike, eyes faster pace of tightening
The report says that the BOJ is eyeing to raise interest rates as soon as the September meeting next month and could even consider hiking more aggressively thereafter. The thinking is that the Japanese central bank would want to move from its current pace of hiking roughly twice a year to a much faster one.
The sources noted that "an early rate hike has come into sight", adding that the BOJ "could also accelerate the pace of rate increases".
They also note that with underlying inflation nearing the 2% target, the BOJ must start to be more sensitive towards the upside risks to prices. Adding that given the current context, the BOJ may not want to wait too long before delivering the next rate hike.
Opened second sell on GBPUSD as we discussed in the morning session.
