Trump disappoints markets
Donald Trump failed to ignite any large movement in financial assets after a subdued acceptance speech which mentioned none of the factors markets were hoping for. US equities managed to close slightly in the green with the DJIA gaining 0.48%, the S&P500 gained 0.34% and the Nasdaq 100 gained 0.24%. The USD was the big loser, as we saw the currency give in to selling pressure with sellers looking determined to sell the currency. Markets will continue to trade the US news, with better than expected data pushing the USD higher while worse than expected data will see the USD selloff continue.
|23-Jan 14:30||US||Equity Markets Open||DJIA|
Has consumer confidence in the EU improved?
Today see the release of the Consumer Confidence figure out of the EU which is expected to remain unchanged from the previous month at -5. The figure measures the confidence consumers have in the current and future state of economic affairs in the EU. A more confident consumer, will likely spend more money now, thus spurring economic growth and a general heating up of the economy. Therefore, a better than expected release will be good for the EUR and vice versa for a worse than expected release.
|23-Jan 15:00||EU||Consumer Confidence||EURUSD|
Canada to release Whole Sales Data
Data out of the Canadian economy continues to weigh down the CAD as buyers are finding less and less reason to hold on to the Canadian dollar. Today’s Whole Sales m/m figure, expected at 0.3%, measures the change in the total value of sales registered at the wholesale level and is regarded as a leading indicator of consumer spending, given that an increase in consumer demand leads to an increase in wholesale demand, a better than expected release will see the CAD strengthen while a worse than expected release will see the CAD continue to slide.
|23-Jan 13:30||CAD||Wholesale Sales m/m||USDCAD|