Mixed week for the Greenback, but ultimately a net winner likely due to net positive U.S. data and rising global risk aversion sentiment. Rising fears of the Coronavirus had traders moving into risk assets, benefiting the Greenback, with exception against the Japanese yen (the usual main beneficiary in risk-off environments) and Sterling (rising on fading rate cut speculation).
United States Headlines and Economic data
Tuesday:
- U.S. may grow more quickly this year than projections: Mnuchin
- Philadelphia Non-manufacturing Business Outlook Survey suggest continued expansion in the region
Wednesday:
- U.S. existing home sales surge to near two-year high
- Trump says GDP would be near 4% and the Dow could be 10,000 points higher if it weren’t for the Fed
- Chicago Fed National Activity Index Goes Negative for December
- FHFA House Price Index Up 0.2 Percent in November; Up 4.9 Percent from Last Year
Thursday:
- U.S. weekly jobless claims rise modestly; labor market solid
- Mnuchin says U.S. government must cut spending, shrink deficits: CNBC
- White House has started work on second round of tax cuts to boost growth, Mnuchin says
- The Conference Board Leading Economic Index® (LEI)for the U.S. declined 0.3 percent in December to 111.2, following a 0.1 percent increase in November
Friday:
