After Brexit and Trump, can the markets now relax?

GKFX Team  |  January / 3. Week

It’s been a big week on global markets with Brexit, Donald Trump’s inauguration huge swings in US markets and the ECB. After Donald Trump’s speech on Friday afternoon the markets got a much needed shot in the arm and were helped higher by a slew of positive earnings. Now the inauguration is over its time to get to work for Donald Trump, and just maybe now the markets can relax a little and just keep its eye on twitter for any key announcements from the new President.

As well as the major economic d  Thursday's data will be incredibly closely watched. Expectations are for the figure to show growth for the UK in 2016 of 2.1% with the MoM figure to come in at 0.5%. Whatever the figure it will for sure give us some volatility on GBPUSD as the market continues to play around with the 1.2300 level and tries to stabalise after the Brexit headlines of the past week.

The US GDP will be in focus of course and yet again with President Trump's pledge to make America great again very much in focus it will be interesting to see what kind of growth print the US can make for 2016 and see just what sort of economy the new President has inherited, expectations are for GDP growth for 2016 to come in at 2.2%. With the US dollar and US equity markets currently struggling for direction anything away from expectations could well take both lower. The key level on the Dow is the 19,700 level, a close on a daily candle below that level could spell much extended downside for US stocks. 

Overall it’s a busy week yet again, but maybe without the headlines of this week. However we can never rule a random Tweet from the new President to keep us all on our toes.
 

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