Greenback Is Retreating

Market Reviews

The greenback started weakening while stocks remained sustained. DOW increased 0.37% to end at 22641.67, S&P 500 lifted 0.22% to close at 2534.58, NASDAQ was up 0.23% to settle at 6531.71. 10 year yield rose to 2.361 but then reduced -0.003 and closed at 2.334. Donald Trump’s advisers have published a list of Janet Yellen’s potential followers, they are: Gary Cohn (Trump's chief economic advisor), Jerome Powell (Fed Governor) and Kevin Warsh (former Fed Governor), Janet Yellen and a few others. Donald Trump is about to have a conversation with each of them and announce his verdict in 2 or 3 weeks.

European Parliament declared it will postpone trade talk with Britain unless there is a significant success in Brexit negotiations. Members of the Parliament claim the divergence between UK officials to be a main reason for such a protraction. Specifically, they named Philip Hammond, Liam Fox, Boris Johnson and Theresa May. Yesterday, there was a massive protest in Barcelona against Spanish government's violent actions to stop Catalonia independence referendum. Almost every institution was closed and 50 roads were blocked. European Parliament is about to talk about the situation. Regional parliament will get results of the referendum and declare Catalonia’s independence. Felipe VI (Spain's King) claims the referendum was illegal.

British BRC shop price fell -0.1% yoy last month. Today, UK it will also publish PMI, Eurozone will announce retail sales and services PMI final. The United States will show ADP employment and ISM services.