An unnamed senior Canadian finance official is providing a media briefing. His comments suggest the anti-austerity movement is gaining clout.

  • Global economy not showing signs of stronger recovery
  • G7 will discuss ways to boost global growth
  • Exchange rates likely to be the theme of the G7 meeting

G7 finance ministers and central bankers meet this Friday/Saturday, the official said it’s undecided if their will be a statement.

It’s unlikely a statement could have a lasting effect on markets but the threat of more action for global growth is a positive for risk trades, while talk about FX could weigh on yen crosses.