• Data shows imported goods prices dropped.
  • Fed very data-dependent.
  • I expect they will catch up soon.
  • We at the White House 100% respect Fed independence.
  • Tarriff revenue important for deficit reduction.
  • Hopeful that India will open up its markets to us.
  • EU and Japan deals will help with capital spending boom.
  • A deal with India will be an absolute game changer for the global economy.
  • We are looking at 4% growth for Q3.
  • Will have additional info on the India penalty shortly.
  • Still hope for progress with India.

On China trade:

  • Trump to be briefed today.
  • Trump will probably want changes before agreement announced.
  • Ground is set for very positive developments.

The GDP data today surprised to the upside and it was preceded by a strong ADP employment report. We have the FOMC decision later in the day where the Fed is expected to keep rates unchanged. For a comprehensive preview click here.

Source: Forex Live