Greenback’s Recovery, Spark of Hope For NAFTA Negotiation
The greenback has gotten better, but the reversal hasn’t been confirmed yet. Shares remain firm. This week includes lots of important data, such as US Personal Capital Expenditure, ISM and Non-Farm Payrolls. Additionally, Fed will have a meeting and Donald Trump will deliver his remarks about dollar’s dynamic in the State of Union. Speaking of the President, some started speculating that he will change his mind about leaving the NAFTA agreement and thus the negotiation might be resumed.
Klass Knot (ECB Governing Council member) said the ECB asset purchase program should probably be ended after its expiry date in September. He added that interest rates are projected to remain at low levels, basing on investors’ extreme cautiousness. Meanwhile, Britain might be a member state of the European Union throughout Brexit (which suggests applying the EU laws) starting from now, if EU's Brexit negotiator Michel Barnier formally adopts the instructions today. But, UK is seemed to have some issues with this. Brexit secretary David Davis claimed he might appeal the case in the court.
Today’s data marks: German import prices, US personal income and spending.