020 7898 0500The stock markets took a bit of a hammering yesterday, as fears over the US-China trade war reared their head once more. China’s disappointing economic growth in the third
quarter of 2018 initiated fresh worries last week, with Caterpillar’s warning of rising prices adding fuel to fire. In possibly related news, Harley-Davidson reported a slump
in sales to American consumers, mere months after Trump called for a boycott. Retail sales fell by 13.3% year-on-year in the last quarter.
The highlight in America today is new home sales for September. We will also see composite, manufacturing and services PMI for October, and mortgage applications up to 19
October 2018. The figures should give us a sense of how the economy has been faring of late, before the GDP growth rate for the third quarter of 2018 is released on Friday.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on
020 7898 0541.
