- Friday saw President-elect Donald Trump’s inauguration in Washington DC. The markets response in the immediate aftermath was fairly muted.
- President Trump’s speech was considered protectionist and nationalistic in nature whilst being very thin on pro-USD substance i.e details on his fiscal spending plans. (PoundSterlingLive)
- GBP/USD closed the day at 1.2373 – 30 points up on the open whereas EUR/USD also closed just over 30 points up at 1.0698.
- UK retails sales m/m came in weaker than expected at -1.9% vs -0.1% expected.
- GBP/EUR traded a narrow range on Friday with a high of 1.1587 and a low of 1.1533.
- Very quiet day ahead in terms of data as is often the case on a Monday.
- We have wholesale sales m/m from Canada at 1.30pm before ECB President Draghi speaks in Italy at 11.30pm.