020 7898 0500On Friday we woke to the news that Donald Trump would no longer be visiting London. In a Tweet he cited Barack Obama’s ‘bad’ embassy deal. However, this didn’t appear altogether convincing, especially seeing as it was actually George W. Bush’s decision to move the embassy from Grosvenor Square to Nine Elms. There is widespread belief that the real reason is that Trump fears mass protests. Whether these protests would have materialised is something we will perhaps never now know.
The dollar had a very bad day at the office and weakened to a fresh low against the pound and didn’t fare much better against the euro. Retail sales figures came in at 0.4% which was a healthy reading and inflation came in slightly below expectations at 2.1%.
It’s a quiet week through to Friday really, which is when we will see the Michigan consumer sentiment for January. We will see the jobless claims on Thursday and it will be interesting to see whether they fall from what was a much-higher-than-expected reading last week.
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