Euro Strengthens After European Central Bank Raises Hawkish Tone
26 Jan 2018
Published in: The Chamber Patron Group
Please find RationalFX's daily market report for today together with all the economic data/times for today's event(s):
The euro surged yesterday after European Central Bank President Mario Draghi said economic data pointed to "solid and broad" growth with inflation likely to rise in the medium-term from subdued levels. Draghi also reiterated that the bank will keep its stimulus for as long as needed and stated that there are "very few chances" that it will change interest rates this year.
Draghi also took a swipe at Washington on Thursday for talking down the dollar, a move he said threatened a decades-old pact not to target the currency and might force his bank to change its own policy.
President Donald Trump said on Thursday that discussions underway between the U.S. and Britain would lead to a "tremendous increase" in trade between the two countries.
Theresa May said the special relationship between the two countries continued and that a trip by Trump to the U.K. was under discussion.
The number of Americans filing for unemployment benefits increased more than expected last week, but the underlying trend remained consistent with a tightening labour market.
Initial claims unemployment benefits rose 20,000 to 245,000 for the week ended Dec. 16,Since mid-October, claims have been in a tight range of 223,000 to 252,000.
- 09:30 - GBP: UK Preliminary GDP (Annualised) Expected to be lower at 1.4% from 1.7%
- 13:30 - USD: US Advance GDP (Annualised) Expected to be lower at 3.0% from 3.2%
- 13:30 - USD: Core Durable Goods Orders m/m Expected to be higher at 0.5% from -0.1%
- 14:00 - GBP: BOE Gov Carney Speaks at the World Economic Forum in Davos
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