- Dollar weakened by events of the weekend
- EU consumer confidence should show signs of recovery
- UK industrial policy to be unveiled.
Well, that was a hell of a weekend in American Politics! Whether Donald Trump’s inaugural address was taken from the Bee Movie is not something I can comment on, but I so hope it is true. Whether there were 600 or 600,000 people at the event is another debate, I don’t have the answers to, but I think the pictures tell their own story now that CNN has issued the time stamp for their notable picture. What is true is that millions of women and men from around the world demonstrated against the Trump Presidency. It’s not an auspicious start, is it?
I will do my best to provide only fact and nothing alternative to facts, if that’s OK? The US Dollar is weaker this morning across the board. So it seems the initial Trump-phoria is giving way to a realisation that he will continue to be divisive and that isn’t good at this early stage. Good luck, Theresa May, when you meet the new President later this week and make sure you have a chaperone at all times.
The Dollar is weaker in spite of quite hawkish comments from Federal Reserve Chair Janet Yellen over the weekend. That weakness has flattered the Pound and Euro, but Sterling seems to have got the better of it. The Pound is up by a half a cent or so against the Euro, but the only notable data today is the Eurozone Consumer Confidence Index which is expected to be a tad less bad than last month. We may see a little swing towards Euro strength later in the day.
It is a quiet Monday on the news front, but that won’t mean it is going to be quiet from a volatility point of view. We will get a view of the government’s industrial strategy and that’s bound to ruffle a few feathers.
And after the events of the last weekend, it seems kind of fitting that 20 years ago today, America swore in its first female secretary of state. Madeleine Albright was originally from the Czechoslovakia and was driven out by Hitler and then Stalin, as she put it. Perhaps her most famous quote is that, “There is a special place in Hell for women who do not help other women.”
A friend of mine has two tickets for the 2017 FA Cup Final, both box seats. He paid £2,500 each but he didn't realise last year when he bought them, it was going to be on the same day as his wedding.
If you are interested, he is looking for someone to take his place...
It's at St Paul's Church, Bromley at 3pm on Saturday 27th May 2017. The bride's name is Nicole. You’ll spot her straight away. She'll be in a white dress.
Today's Major Economic Releases
||Canada: Wholesales Sales month-on-month
||EU: Consumer Confidence Index
||European Central Bank President Draghi speaks
Daily Currency Analysis by David Johnson
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