Bullet Report: Stocks – Dollar fall on Trump Travel Ban

This week’s highlights will be the FOMC meeting on Wednesday and the January NFP on Friday. The Bank of England meeting on Thursday will also be very important. On FOMC day we expect no change and little extra information given as to future policy. Thursday’s BoE meeting will be very important as it will include an updated Inflation Report and a press conference.

Asian Markets reacted negatively to Trump’s Muslim ban, who has suspended for admission all refugees for 120 days while Syrian refugees have been prohibited entry indefinitely. Leaders from Apple, Facebook, Netflix Twitter and Google have condemned the policy. European and US stock markets are expected to head lower today.

Although there are no scheduled events this week, US politics will keep capturing market attention, as the priorities of the Trump administration become clearer.

The dollar index, which tracks the greenback against a basket of trade-weighted peers, fell about 0.2
% to 100.34 in Asian trade, after touching a session low of 100.17.

Adding to pressure on markets, data on Friday showed U.S. economic growth slowed more than expected in the fourth quarter, with gross domestic product rising at a 1.9 % annual rate, below the 2.2 % rise expected by economists.

In commodities markets, oil started the week on a negative note, extending declines on signs of growing output in the U.S. that looks set to offset supply cuts by the Organization of Petroleum Exporting Countries and other producers. U.S. crude retreated 0.45 % to $52.93 a barrel, adding to Friday’s 1.1 % slide.

The post Bullet Report: Stocks – Dollar fall on Trump Travel Ban appeared first on Forex.Info.

Source:: Bullet Report: Stocks – Dollar fall on Trump Travel Ban

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