Last week we saw the Dollar move slightly lower as the markets look beyond the inauguration of Donald Trump on Monday.
The markets are now looking more towards the fiscal elements from trade tariffs to expansive stimulus under his Presidency.
The USD crept lower as it consolidated its recent gains however the trend still looks strong. The DXY lost 0.2%.
GBP still remained weak and vulnerable. The UK fiscal landscape remains troubled, and the GBP could come under further pressure. Gilts had a small rally.
The Yen was the firm winner on the week as expectation of BoJ action. The markets are looking to the BoJ to raise rates further. This was coupled with expectation of inflationary forecasts set to be revised higher. Traders have an 80% chance of an interest rate rise.
Oil continued to rise posting its fourth positive week in a row. WTI added a further 1% to close around $77.30.
The week ahead we have Donald Trump taking office on Monday and we expect a large amount of action during his first few days.
Data we have rate decisions from BoJ as well as PMI readings.
Weekly Majors’ Market Performance
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Peyman Khosravani is a global blockchain and digital transformation expert with a passion for marketing, futuristic ideas, analytics insights, startup businesses, and effective communications. He has extensive experience in blockchain and DeFi projects and is committed to using technology to bring justice and fairness to society and promote freedom. Peyman has worked with international organizations to improve digital transformation strategies and data-gathering strategies that help identify customer touchpoints and sources of data that tell the story of what is happening. With his expertise in blockchain, digital transformation, marketing, analytics insights, startup businesses, and effective communications, Peyman is dedicated to helping businesses succeed in the digital age. He believes that technology can be used as a tool for positive change in the world.
