Trump creates high market tension
The US monthly core PPI result was less than the expectation, dropped by 0.1%. The US president Trump was not satisfied with the rate cuts decision and urged the Fed to cut interest rate by 100 basis points. His pressures on the Fed has become more and more frequent and straightforward. On the other hand, he makes the market worry about the trade tensions, thus reducing the investors’ appetite about US stocks. DOW 30 and SP 500 both fall last Friday.
There was an increasing worry about the hard Brexit that making the pound drop. Moreover, Canadian employment rate decreased by 24.2k, which was dramatically less than the expected 15.2k.
If the big data to be released this week including US monthly CPI, retail sales and consumer confidence index indicate a weak performance, US dollar may be encountered a further downward pressure.
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