Greenback Maintains Strength, Tax Reform Will Be Heard
The greenback is still sustained. Investors are looking forward to hearing details of Donald Trump’s tax reform. The single currency and New Zealand dollar stays muted by recent elections. Angela Merkel will discuss possible coalition with CDU, CSU, GDP and Greens. Yesterday, Janet Yellen delivered her speech before National Association for Business Economics. Her view at the inflation differs from those of Charles Evans and William Dudley, as she sounded a little more insecure about reaching the 2% aim. She added that labor market can lose its strength.
EU and UK began the 4th round of Brexit negotiations. The sides are still hesitating and there is no significant discussion. Overall, the picture remains vague. Emmanuel Macron presented his project for a "profound transformation" of the European Union. He claimed that since the populism became so trendy now, EU should hurry to restructure itself. The President thinks there should be one finance minister, defense force and intelligence agency against terrorism.
Swiss is about to feature UBS consumption index, Eurozone to announce M3 and Britain to show CBI realized sales. We’ll also take a look at durable goods order and pending home sales from the US.