020 7898 0500The dollar (USD) has been at the mercy of Donald Trump so far this week, with market movement being dependent on his new policies and or statements. The currency suffered its worst January in three decades after Mr. Trump complained that every “other country lives on devaluation,” while the US sat by “like a bunch of dummies.”
In other news, US ADP Non-Farm Employment Change came in at 246,000, against a forecast of 165,000. Despite the positive data the dollar (USD) continued to lose ground against the pound (GBP). The dollar has started to weaken as markets become nervous about Trumps presidency, and his recent decisions have depressed the dollar, increasing speculation that he is actively seeking to devalue it.
The latest Federal Reserve was very much as expected; no change but with further interest rate rises this year are very much on the cards and we should expect similar increases in 2018 and 2019.
Tomorrow we have unemployment claims data to look forward to, which is forecasted to come in at 251,000.
