US Dollar Shows a Near-Term Weakness

The Canadian headline retail sales dropped by 0.5% in December versus the projected value at 0.1% and the Canadian core retail sales down dropped by 0.3% in December versus the projected value at 0.8%.

The U.S. Home Sales moved upwards from 5.51M to 5.69M versus the forecasted value at 5.55M. The Federal Open Market Committee’s policymakers discussed on the possible risks the U.S Dollar could bring in. In addition, the policymakers stated that depending on the employment opportunities in future, the March rate hikes will be decided accordingly.

The foreign investment in Japan stocks declined with a value of 127.9B versus the projected value at 175.6B. The foreign investment in Japan bonds declined with a value of 48.2B versus the projected value at 297.4B. We need to look out for the Economic Index and Coincident Index of Yen which would either make or break Yen’s economic value.

Germany looks forward with the Gross Domestic Product data which promises a positive outlook for the economy.  All eyes are on Switzerland’s Industrial Production as it produces a high potential output which helps in the growth of the economy at a fast rate. With the U.S Continuing Jobless Claims signaling a weak data, we need to wait and watch out for the performance of the U.S Dollar along with Trump’s economic policies. As of now, the U.S Dollar shows a modest near-term weakness.

 
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