Trump says dollar will get ‘stronger and stronger,’ Mnuchin was misinterpreted (cnbc)
- “The dollar is going to get stronger and stronger and ultimately I want to see a strong dollar,” Trump tells CNBC.
- A day earlier, Treasury Secretary Steven Mnuchin said he welcomed a weaker U.S. dollar.
- Mnuchin’s comments kicked off a 2 percent decline in the dollar index.
We believe there are other reasons for the decline; TAX REFORM that will kill the country revenue, Government inconsistency and disputes within, protectionism, relationship with China, Middle East and Oil Issue, and the list goes on. Bitcoin and Yuan LOOKS like a better deal then the USD ULTIMATELY.
Mnuchin’s comments WERE true – the only way “AMERICA FIRST” is to have cheap USD to sell the products of the US. This takes no-brainer the economy sense!! Is not being interpreted it is from his HEART!! Let’s get REAL!!
BOJ FOCUS ON ECONOMY AND INFLATION
After years of deflation, Japan’s labor market is the tightest it has been in decades, and the Bank of Japan is still providing significant stimulus to the economy. But with inflation still well below target, central bankers are finding themselves between a rock and a hard place. Time to let go of stimulus and focus on real growth and workforce back again!! Read more @ https://www.project-syndicate.org/commentary/bank-of-japan-low-inflation-conundrum-by-takatoshi-ito-2018-01
THE USD INDEX
NEWS THAT MAY INTERRUPT YOUR TECHNICAL CHARTS
- Japan national CPI is as expected at 0.9% and BOJ should be happy moving forward. We maintain SELL or USDJPY.
- 5.30pm – UK will release the Prelim GDP q/q – expected to be good. We maintain BUY for GBPUSD.
- 9.30pm – be ready for Canada CPI and we believe the data is going to be good for a sell USDCAD. Volatility expected.
- 9.30pm – US will release their GDP and we are expecting weaker or no change to the previous GDP. We maintain SELL for USD.
- 10.00pm – Kuroda (BOJ) and Mark Carney (UK) – WILL SPEAK – both of them should be hawkish in their statement and we can expect a very volatility in favor of JPY & GBP pairs.
What a day is going to be; be always vigilant in your money management.
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