In remarkable scenes yesterday, Trump met with Nancy Pelosi and Chuck Schumer in the Oval Office and began having a heated argument with them. Pelosi repeatedly asked that Trump did not discuss border security issues in front of the press, but the former reality television star shouted “I will be the one to shut it [the government] down if there is no wall.” He added that he was proud to shut down the government over border security and that he ‘would take the mantle’.
Like other markets around the world, Wall Street rallied following reports that China might cut US car tariffs. The Dow Jones industrial average rose by 330 points, or 1.4%, in early deals.
The headline release from the US today is the inflation rate for November. Core inflation is expected to nudge up to 2.2% from 2.1% the month before, while the inflation rate is set to drop to the same figure from 2.5% in the previous period. We will also mortgage applications up to 7 December 2018.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Private Client trader on 020 7898 0541.