Here is what you need to know on Tuesday, August 20th:
– Trading was dull, despite the market didn’t lack relevant headlines, all of them, same old, same old. Once again, Trump tweeted about the US economy doing even better if the Fed cuts 100 basis points. Later in the day, Boston Fed’s Rosengren said he does not see a lot of need to take action on monetary policy.
– Boris Johnson said he was confident he could renegotiate the deal and that the EU will remove the Irish backstop, saying it’s not viable. Irish PM Varadkar, on the other hand, reiterated that the deal is not to be reopened.
– China fixed the YUAN at a stronger level, although the market didn’t react to it either.
– Equities advanced, mostly led by tech-related shares, after US Commerce Department granted an extension to Huawei to deal with US companies.
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