 Dollar selloff continues today as full-blown trade war fear receded. Yen follows as the second weakest on return of global risk appetite. Euro's strongest pace was overtaken by Swiss Franc and Canadian Dollar. The Loonie is awaiting the Canadian Foreign Minister Chrystia Freeland's visit to Washington. But so far, overall signs are positive. In other markets, FTSE is trading up 0.46% while DAX is up 0.30% at the time of writing. But both are kept well below day high made earlier in the session. On the other hand, CAC picks up solid momentum as the session goes and is up 0.42%. Gold is firm above 1210 thanks to Dollar's weakness. Whether it's still named NAFTA or now US-Mexico Trade Agreement, the deal showed that Trump backed down from his demand of sunset clause. And it's a signal that he's ready for more concessions in negotiation with Canada as well as the EU. The threat of auto-tariffs on the closest allies of the US is materially reduced. Also, no matter how hard he sounds, Trump is facing tremendous domestic political and business pressures to include Canada into the deal eventually. We'll see how it goes. Talking about trade, US trade deficit widened to USD -72.2B in July, up from USD -67.9B and larger than expectation of USD -68.6B. US Wholesale inventories rose 0.7% mom in July. Released earlier today, Eurozone M3 money supply rose 4.0% yoy in July. | 
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