Yesterday’s emergency G7 meeting seems to have bore no fruit.

The emergency G7 summit held yesterday appears to have yielded no results. Joe Biden is keeping to his target of August 31st to complete the evacuation and withdraw all US military forces from Kabul airport. The United Kingdom and France rely largely on the US military’s infrastructure and men at the airport for their operations.

Dominic Raab, the Foreign Secretary, has refuted reports that he refused to return home early from his vacation in Greece to deal with the Afghan problem. He has confessed, though, that he should not have gone in the first place.

The US Congress adopted Joe Biden’s $3.5 trillion spending plan yesterday. The impact of this massive government spending initiative is expected to boost the US economy while simultaneously flooding the market with dollars.

Away from economic and geopolitical news the legendary Rolling Stones drummer Charlie Watts passed yesterday aged 80.

Economic Calendar

Expected Previous
09:30 ECB's De Guindos Speaks
11:00 GBP CBI Distributive Trades Survey (Aug) 20 23
12:00 USD MBA Purchase Index 249.9
13:30 USD Durable Goods Orders (MoM) (Jul) -0.3% 0.8%
15:30 USD Crude Oil Inventories -2.683M -3.234M
15:30 USD Crude Oil Imports -0.813M

*All rates shown are indicative of interbank rates and should only be used for indication purposes only. It is important to note that foreign exchange rates fluctuate and that rates may vary depending on the amount and the base currency that is purchased or sold. Rates are correct as of 8:00am UK time. CentralFX are not responsible for the rates shown.