Daily Update - 31st Jan 2017
The highlight was Trump’s controversial weekend national address to the general public through Facebook’s live feature instead of using more conventional means such as standard news providers such as CNN due to his distrust in the media as he says they distribute “Fake News”. He addressed a few executive orders that he has put in place such as the repealing of Obama Care as well as the withdrawing from the (TTP) Trans Pacific Partnership in order to negotiate one on one deals which was what was discussed between Trump and Theresa May as they are in the talks of setting in place a bilateral trade agreement between the two countries. Even with all this, The major highlight of the week is the 90 day Immigration ban and suspension of the US refugee program for 120 days for countries such as Libya, Syria, Iran, Somalia, Sudan, Yemen and Iraq. This has sparked wildfire in the social media and investors have also taken it in a negative manner causing the Euro and GBP to increase in strength. Apart from the political environment causing a shift in the Euro, the Euro was under positive pressure due to service sentiments improving in the EU on January surveys. Furthermore the economic sentiment indicator showed improvement in the Eurozone from 107.8 to 108.2 which was stated as the best reading in nearly 6 years. The USD was on a roll as well with core PCE index remained unchanged and personal income rose significantly to 0.3% from the initial 0.1%. The Dallas FED Manufacturing Business Index has also showed significant improvement where it increased from 15.5 to 22.1. Even with most reports looking positive the investors were still dumping USD mainly due to the President Trump’s aggressive protectionist policies. Early morning today, BoJ will have the Interest Rate Decision followed by the GFK Consumer Confidence which will show the consumers’ confidence in the economic. Later on, we will take a look at the Consumer Price Index which will show the cost of living. Later in the day, Quarter 4 Gross Domestic Product reports will be released to show the total value of goods and services produced in the Eurozone. Looking towards the US, the first significant report released will be the Consumer Confidence reports which will show the confidence of the general public towards the economic activity that is taking place. Yesterday Market
Yesterday Focus
Today’s Market
Today’s Focus
