Greenback And Japanese Yen Got Softer

Market Reviews

The greenback as well as Japanese Yen have weakened. The single currency and Australian dollar, on the other hand, have reinforced. Hong Kong HSI rose 1%, South Korea KOPSI lifted 1.1%, China SSE fell -1.3%. Angela Merkel announced her concessions to the Social-Democratic Party. Merkel’s Christian Democratic Union and SPD keep working on the reformation of the grand coalition and the Chancellor’s concessions suggest she should pass the finance minister foreign ministry. Merkel said it would be very difficult for her to do that.

Ewald Nowotny (ECB Governing Council member) stated that European Central Bank is worried that the US is trying to politically interfere with the exchange rate. Nowotny added that this issue will soon be discussed at the Great 20 Summit in Davos. When asked to give his opinion about the US economy, ECB Governing Council member basically said Donald Trump got lucky Barack Obama’s administration did so much for the economic improvement, telling that Trump "started with a good inheritance".

In the coming weeks, Theresa May and members of her administration will deliver speeches on the divorce process. This particular week will mark inflation and Gross Domestic Product figures as Swiss, Britain and the US publish Consumer Price Index and Japan along with Eurozone feature their Gross Domestic Products. We’ll also get Australian employment. Today, investors expect Swiss CPI and speeches from British Monetary Policy Committee members Ian McCafferty and Gertjan Vlieghe.