What you need to know on Thursday, August 29:
US Treasury Secretary, Steven Mnuchin, has expressed his optimism about the trade talks and that it will resume, while White House adviser, Peter Navarro, said that it will take more time. The optimism about trade talks can help market to be stabilized before imposing of new tariffs on September 1st.
GBP/USD remains on the back foot after UK PM Boris Johnson decreased the number of parliament’s working day before Brexit deadline October 31st.
Oil prices moved back from its highs as fears about global demand have replaced optimism from the drop in inventories.
In today’s economic calendar there are important reports such as German inflation figures and US GDP, which a downward move to 2% is predicted.
Cryptocurrencies fall, Bitcoin trading around $9600 and Ethereum at $170.