· The dollar slipped to a three-day low against the euro on Friday after European Union leaders reached an agreement on migration that eased pressure on German Chancellor Angela Merkel, but the currency was set to log its best quarterly performance in six quarters.
"The agreement probably means no further worries about her coalition falling apart. It's therefore positive for the euro," Marshall Gittler, chief strategist at ACLS Global, said in a note.
The euro was up 0.83 per cent against the dollar at US$1.1663.
The dollar index, which measures the greenback against a basket of six currencies, was down 0.76 per cent at 94.663.
· President Donald Trump said on Friday his administration’s investigation into whether to increase tariffs on cars from the European Union and other trading partners would be completed in three to four weeks.
U.S. President Donald Trump said he expects a second tax overhaul to be unveiled in October or a bit earlier, and he is considering cutting the corporate tax rate to 20percent from 21 percent.
· U.S. Treasury Secretary Steven Mnuchin pushed back on a news report that President Donald Trump is discussing a withdrawal from the World Trade Organization, calling it "an exaggeration."
"He has concerns about the WTO. He thinks there’s aspects of it that aren’t fair," Mnuchin said during an interview on Fox Business Networks’s "Mornings With Maria" show. In addition, he said it’s "not breaking news."
Trump has repeatedly told top White House officials he wants to withdraw from the trade organization, which he said isn’t always fair to the U.S., Axios reported, citing unidentified administration sources. The Stoxx Europe 600 Index and U.S. futures both wobbled before recovering following the report.
· U.S. President Donald Trump will press Russian leader Vladimir Putin on Moscow’s denial of meddling in the 2016 presidential election when the two leaders meet next month, national security adviser John Bolton said on Sunday.
Bolton said he discussed concerns about Russian meddling in the U.S. elections with Putin during his visit to Moscow on Wednesday, citing activities targeting congressional elections coming up in November as well as the 2016 presidential contest.
· German Interior Minister Horst Seehofer offered his resignation to party colleagues late on Sunday, party officials said, escalating a row over migration with Chancellor Angela Merkel that threatens her fragile government.
Seehofer said he was ready to step down as minister and as chair of his Christian Social Union (CSU) at a meeting where his party’s leadership was discussing whether to accept immigration proposals Merkel brought back from Brussels last week.
· Oil prices fell early on Monday, following comments from the White House that the leader of Saudi Arabia promised President Donald Trump that he can raise oil production if needed.
U.S. West Texas Intermediate crude for August delivery was down 65 cents, or 0.9 percent, at $73.50 a barrel by 2250 GMT, after rising more than 8 percent last week. It touched a low of $72.51.
London Brent crude fell 55 cents, or 0.7 percent, to $78.68, after gaining more than 5 percent last week.
· The leader of Saudi Arabia promised President Donald Trump that he can raise oil production if needed and the country has 2 million barrels per day of spare capacity, the White House said on Saturday, rowing back on an earlier Trump tweet that appeared to suggest the Saudis had agreed to boost output by that amount.
Trump told King Salman bin Abdulaziz Al Saud that the oil market could need more supply when the men spoke on Friday, the White House said. The Saudi leader said he was ready to raise output if needed, the White House said in a statement.
Reference: Reuters, Market Watch, Bloomberg
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