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21 Aug 2019 16:35 EUR/GBP - 0.9135... Reuters reported UK Labour opposition leader Jeremy Corbyn MP has invited leaders of other political parties and senior lawmakers from across parliament to meet to discuss all tactics available to stop Britain leaving the EU without a deal, Labour said on Wednesday. 
 
The meeting will take place next Tuesday at 1100 GMT, it said. 
 
"The country is heading into a constitutional and political storm, so it is vital that we meet urgently, before parliament returns (on Sept. 3)," Corbyn wrote in the invitation. 
 
21 Aug 2019 16:31 EUR/GBP - 0.9142... Reuters news, British PM Johnson says : 
 
- wonderful to be in Berlin 
-our relationship with Germany is so important for UK 
- we will be talking about a wide range of subjects - Russia, Iran, China, Hong Kong 
- we will talk about Brexit 
- I want to be clear: we in the UK want a deal 
- I believe we can get a deal 
- but clearly we cannot accept the current withdrawal agreement 
- we cannot accept any arrangements which divide the UK 
- we do need that backstop removed 
- if we can remove backstop we can move forward together 
- we are dedicated to the protection of the 3.2 million EU nationals in the UK 
 
21 Aug 2019 16:24 USD/MAJORS... Reuters reported U.S. President Donald Trump said on Wednesday that his administration was seriously looking at ending the right of citizenship for U.S.-born children of non-citizens and people who immigrated to the United States illegally. 
 
21 Aug 2019 16:22 EUR/GBP - 0.9142... Reuters news, Merkel says : 
 
- our goal is to continue having tight relations with British after Brexit 
- I would welcome a negotiated Brexit deal 
- but we are ready for all scenarios 
- we need to be able to deal with possibility that Britain could be outside EU from one day to other 
- Europe offer stands to negotiate trade deal after Brexit 
- the moment we have a solution for Irish border problem then we won't need the backstop 
- we need to make an effort to find a solution to backstop problem before Brexit date 
- EU27 will have a united position in Brexit talks 
- first step is to hear Britain's views on Irish border problem 
- EU task is to protect integrity of single market 
- deal must insure that Britain leaves EU and at the same time good Friday agreement is upheld 
 
21 Aug 2019 16:20 GBP/USD - 1.2142... Reuters news, UK opposition leader Corbyn invites leaders of other political parties, senior lawmakers to discuss all tactics to prevent no-deal Brexit on Aug.  
 
21 Aug 2019 16:10 USD/MAJORS... Reuters news, U.S. President Trump says : 
 
- at a certain point countries like Afghanistan and Iraq have to fight their own battles with Islamic State; he also cites Rsiia, Pakistan and Iran as having to step up 
- if Europe doesn't take Islamic State fighters held as prisoners, he will have to release them into the countries from which they came, such as Germany and France 
- his administration is look seriously at ending so-called birthtight citizenship 
 
21 Aug 2019 15:59 GBP/USD - 1.2140... Reuters news, British PM Johnson arrives for talks with Angela Merkel at Germany Chancellery in Berlin 
 
- cries of "stop Brexit" head as British PM Johnson arrives for talks with Germany's Merkel 
 
21 Aug 2019 15:58 USD/MAJORS... Reuters news, U.S. President Trump says : 
 
- U.S. will probably make a trade deal with China 
- U.S. doesn't need one because its economy is strong when he is not looking at a payroll tax cut now 
 
Reuters then reported U.S. President Donald Trump said on Wednesday his life would be easier if he had not mounted a trade war with China but said "I am the chosen one" to take on Beijing. 
 
Trump told reporters the United States would probably make a deal with China. 
 
21 Aug 2019 14:26 USD/MAJORS... Reuters reported the International Monetary Fund on Wednesday warned against governments trying to weaken their currencies through monetary easing or market interventions, arguing in a blog post that this would hurt the functioning of the international monetary system and make all nations worse off. 
 
The post, which comes as global central bankers are gathering this week in Jackson Hole, Wyoming, said that policy proposals to use monetary easing and direct purchases of other countries' currencies are unlikely to work. 
 
"One should not put too much stock in the view that easing monetary policy can weaken a country's currency enough to bring a lasting improvement in its trade balance through expenditure switching. Monetary policy alone is unlikely to induce the large and persistent devaluations that are needed to bring that result," IMF chief economist Gita Gopinath and IMF researchers Gustavo Adler and Luis Cubeddu said in the post. 
 
21 Aug 2019 14:17 EUR/GBP - 0.9154... Reuters reported France believes 'no-deal' is now the most likely Brexit scenario after British Prime Minister Boris Johnson demanded the European Union reopen the divorce deal and drop the Irish backstop, an official in President Macron's office said on Wednesday. 
 
Johnson said on Tuesday that the backstop - an insurance policy to keep the Irish border open after Britain leaves the European Union - was "anti-democratic", and demanded its removal from the stalled divorce deal.  
 
"The scenario that is now becoming the most likely is the no-deal scenario," the official said. 
 
"If the United Kingdom considers that having a backstop is absolutely excluded, that is its right, but in that case it limits the possibility of reaching an agreement." 
 
21 Aug 2019 14:00 USD/MAJORS... Reuters reported U.S. home sales rose more than expected in July, boosted by lower mortgage rates and a strong labor market, signs the Federal Reserve's shift toward lower interest rates was adding support for the economy. 
 
The National Association of Realtors said on Wednesday existing home sales rose 2.5% to a seasonally adjusted annual rate of 5.42 million units last month. July's sales pace was revised slightly higher to 5.29 million units from the previously reported 5.27 million units. 
 
Economists polled by Reuters had forecast existing home sales would rise to a rate of 5.39 million units in July. 
 
21 Aug 2019 12:59 EUR/GBP - 0.9146... Reuters reported European Council President Donald Tusk will hold a face-to-face meeting with British Prime Minister Boris Johnson at 1030 GMT on Sunday on the sidelines of a G7 summit in France, Tusk's schedule showed on Wednesday. 
 
21 Aug 2019 12:55 USD/MAJORS... Reuters news, U.S. President Trump says : 
 
- 'doing great with China and other trade deals.''the only problem we have is' Fed's Powell. 
- U.S. we will have big economic growth if Powell 'does the right thing' 
and make big interest rate cut 
- 'we are competing with many countries that have a far lower interest rate, and we should be lower than them' 
 
Reuters then reported President Donald Trump on Wednesday continued to pressure the Federal Reserve and the central bank's chairman to lower interest rates, saying its policies were hampering U.S. growth and reducing the country's ability to compete economically. 
 
"Doing great with China and other Trade Deals. The only problem we have is Jay Powell and the Fed. He's like a golfer who can't putt, has no touch. Big U.S. growth if he does the right thing, BIG CUT - but don't count on him!" Trump wrote on Twitter. 
 
"We are competing with many countries that have a far lower interest rate, and we should be lower than them," he added. 
 
21 Aug 2019 12:46 Continues fm prev. update... 
 
Canadian cellphone bills are expected to be a common issue for all three of Canada's major political parties in the upcoming Oct. 21 federal election, where Prime Minister Justin Trudeau is facing tight competition from his opponent Conservative Party Leader Andrew Scheer. 
 
Wednesday's data also comes as the Bank of Canada is set to release its next interest rate decision on September 4. The bank has held interest rates steady since October 2018 and is not expected to move for the rest of the year. 
 
CPI common, which the central bank says is the best gauge of the economy's underperformance, rose slightly in July to 1.9% - coming in above analyst projections of 1.8%. 
 
Meanwhile, CPI median, which shows the median inflation rate across CPI components, and CPI trim, which excludes upside and downside outliers, were 2.1%. 
 
21 Aug 2019 12:45 USD/CAD - 1.3272... Reuters reported Canada's annual inflation rate held steady in July at 2.0% because of lower costs for services, including telecoms, that were offset by higher prices for durable goods, Statistics Canada said on Wednesday. 
 
Analysts in a Reuters poll had forecasted an inflation rate of 1.7%. Canada's inflation rate in June was 2.0%. 
 
Statistics Canada said Canadian consumers paid less for telephone services in July following a industry-wide shift in how prices are set for cellular plans. At the same time, the price of smartphones and tablets rose 42.5% month-over-month following a reduction in subsidies for wireless devices. 
 


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