The resignation of chief economic advisor to President Trump reactivates concerns about trade wars and restores the risk-off climate to the market. JPY and CHF are getting better, AUD and CAD are doing the worst. The stock market in Asia shines red: Japanese Nikkei225 lost 0.77% today, and Shanghai’s main index falls by 0.6%.
On Wednesday 7th of March, the event calendar is busy with important data releases. During the London session, it will be worth to keep an eye on UK Halifax House Price Index data and Eurozone Final GDP data. During the US session, important data to focus on are ADP Non-Farm Employment Change, Trade Balance and Crude Oil Inventories from the US and from Canada: Overnight Rate decision and Bank of Canada Rate Statement. There are two speeches from Fed officials scheduled as well.