The dollar weakened yesterday against the euro and the pound, as both currencies strengthened. However, the greenback is stronger this morning. Reassuring comments from Chinese Health Officials have eased worries about a possible global pandemic. Despite this, the coronavirus has now been detected in the US and more cases outside of China are expected to be uncovered.
President Trump hinted that the US could impose tariffs on EU cars if he can’t strike a trade deal with the European Union. Whilst speaking at the World Economic Forum in Davos, he said, “They know that I’m going to put tariffs on them if they don’t make a deal that’s a fair deal.”
The impeachment trial got under way yesterday, with most believing that Donald Trump will be acquitted. Senators voted on whether the trial should have witnesses. Democratic House Manager, Adam Schiff, said that, “Any senator who votes to deny a witness is voting to cover-up the president’s actions.”
Mortgage and Home Sales data will be released today, ahead of a series of PMI data on Thursday.
