The U.S. Dollar is trading in mixed but lower ranges this morning after President Donald Trump walked back the prospect of imposing tariffs on European countries in relation to the United States’ bid for Greenland.
With Trump stating that the “framework [for] a future deal” has been achieved, any potential crisis has been avoided for the time being. While Traders were largely expecting this, Trump folded on the idea of European tariffs faster than some were expecting or hoping for.
Today should be a much calmer day, with many world leaders travelling back from the World Economic Forum summit in Davos, Switzerland. Initial Jobless Claims for the week ending January 17th were released this morning and printed slightly lower than expected at 200k vs 209k. Continuing Claims also printed slightly under expectations, coming in at 1849k vs 1890k expected.
What to Watch This Week…
- Monex USA Online is always open
GBP ⇓
The British Pound is down against the Buck this morning as concerns surrounding a shift in the leadership of the ruling Labour party swell. Manchester Mayor Andy Burnham has a path back into parliament that could see him challenging Prime Minister Keir Starmer for the top position. The combined pressure of a potential leadership change and Burnham’s historical proclivity to increased borrowing has been enough to unsettle Traders.
