Yesterday, there were reports that Democrats on the House oversight committee have launched an investigation into Trump’s use of security clearances. They said that there have been ‘grave breaches’ in the process and it will be interesting to see what, if anything, is uncovered. It will be another headache for the former reality TV star who is up against it at present. He is overseeing the longest government shutdown in history with no clear solution in sight. Polls show that most Americans are against the shutdown.
Mortgage applications in the US dropped by 2.7% in the week ending 18 January 2019, following a 13.5% gain the previous week. As with the eurozone, today we will see manufacturing and services PMI from the US. Both are expected to have dipped a little from the previous month’s reading. We will also see initial jobless claims up to 19 January 2018 which are expected to nudge up to 220,000 from 213,000, although recent readings have been much better than what has been forecast.
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