get_geodata_regions(); Daily Brief, Oct 21: Economic Events Outlook – Canadian Elections in Focus - Forex News by FX Leaders

Daily Brief, Oct 21: Economic Events Outlook – Canadian Elections in Focus

Posted Monday, October 21, 2019 by
Arslan Butt • 2 min read

Good morning, traders.
The market is trading slightly on a risk-off sentiment as the weaker than expected Chinese data on Friday showed that China has also suffered from the trade war and gave another reason for a quick deal settlement between US-China. Chinese GDP for the Q3 2019 decreased to 6.0% from the second quarter’s GDP of 6.2%.
After the UK and the EU seized an agreement, it was time for the British Parliament to have its verdict. Prime Minister Boris Johnson was working hard to gather a majority that his forerunner Theresa May had failed to arrange three times.
Britain’s Parliament voted to delay its support of Prime Minister Boris Johnson’s Brexit agreement on Saturday, initiating another law that compels him to ask for a delay on the country’s exit from the European Union.

Canadian Federal Election, 2019

The 2019 Canadian federal election (formally the 43rd Canadian general election) is set to take place on October 21, 2019, to select members of the House of Commons to the 43rd Canadian Parliament. Governor General Julie Payette ended the 42nd Parliament on September 11, 2019, on the recommendation of Prime Minister Justin Trudeau.
Although the election day is Monday, the results will be out early on Tuesday. Prime Minister Justin Trudeau attempts a second course and encounters a massive confrontation with Conservative leader Andrew Scheer.
Stock exchanges will probably be bullish if either leader gains a majority in the 338-seat Parliament. The Canadian dollar may grapple if neither party acquires a majority.

German Buba Monthly Report – Tentative

The Bundesbank is due to release this monthly report. It contains relevant articles, speeches, statistical tables, and provides a detailed analysis of current and future economic conditions from the bank’s viewpoint.
Market impact tends to be higher when the report reveals a viewpoint that clashes with the ECB’s stance.

Federal Budget Balance – Tentative

The US Department of the Treasury is due to report Federal Budget figure, which shows a difference in value between the federal government’s income and spending during the previous month.
A positive number indicates a budget surplus, while a negative number indicates a deficit. Economists are expecting 83.5B budget vs. -200.3B budget prehand.
All the best, and stay tuned to FX Leaders for more updates and orex trading signals!

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