EU leaders this morning reached a deal on the migration topic. Rescued migrants on EU territory should be sent to “controlled centres” in the bloc. For those in need of international protection, the principle of solidarity would apply (an Italian demand) but on a voluntary basis (a central European demand).
Facing mounting complaints by the US, Germany and other trading partners, China eased limits on foreign ownership in several sectors (including car manufacturing and insurance). The move comes after US president Donald Trump softened his stance in regard to restrictions on Chinese investments in the US. In the UK, GfK consumer confidence is being released. Lloyds business barometer and not least the final revision to the Q1 GDP estimate are probably not market movers as such, but might attract some at tent ion as the Bank of England has left the door open for a rate hike in August depending on data in Q2.
Ahead in the economic calendar, the US economic docket features the release of personal income spending data, the core PCE price index – the Fed’s preferred inflation gauge, which followed by Chicago PMI and Revised UoM Consumer Sentiment might influence the USD price dynamics and provide some meaningful impetus on the last trading day of the week.