The week starts without major data releases and with thinner liquidity as some Asian markets are closed for a holiday. Trade tensions are inevitably bound to remain the primary driver of markets sentiment in the days ahead, in particular after increasing speculation that the negotiations scheduled for September will be called off. The People's Bank of China's CNY fixing has been moving slightly outside of investors’ radar but the risk of China allowing a further sharp depreciation of its currency is anything but unwarranted and would likely signal the start of a “currency war” with the US. Looking at the US side, the ... (full story)