Donald Trump’s ‘travel ban’ has led to investors moving into other safe havens, with JPY and Gold being the short term winners. Business leaders from across the world have voiced their opinions and now Theresa May has come into the firing line for not overly condemning his latest actions. She has since stated she looks forward to welcoming the new President of the US, which has seen a petition to ban him reaching 1.5 million signatures. Seven Muslim majority countries have been banned from entering the US for a short term period, but similar countries who have had dealings with Trump’s own businesses appear to be have been green lighted to travel freely.
Lobby group sees Brexit as golden opportunity to boost trade
City UK Lobby Group has stated it sees Brexit as a golden opportunity to boost trade and investment in the coming years, having previously voted and campaigned to remain in the EU. Such positivity will no doubt back the UK Prime Ministers corner, as she seeks to get clarity from the Supreme Court soon.
German inflation almost touches 2%
Yesterday, German inflation almost touched 2%, the key indicator level which ECB yearns for. This could put more pressure on Mario Draghi to think about tightening the current Monetary Policy. Germany’s economists are keen for the ECB to cut the QE programme soon, but other countries are still undecided.
Big day in terms of key note speakers
Big day in terms of key note speakers and particularly data, with the Bank of Japan stating its Monetary Policy Statement in the early hours of Asian trading. The German unemployment rate is being seen as the main piece of data today with forecasts expected to remain at 6% whilst Eurozone Consumer Price Index and Gross Domestic Product are also out today. The UK has its Mortgage Approvals numbers for viewing alongside Net Consumer Credit. Canadian Gross Domestic Product and US Consumer Confidence finish a busy day for the FX markets.