The US Dollar was able to gain some traction against the Japanese Yen and pulled away from the recently struck 2 ½ week trough but remains under pressure generally ahead of President Trump’s policy address before the US Congress tomorrow. Analysts believe that this will finally shed some light on Trump’s economic plans, especially as it relates to tax reform and infrastructure spending. What is of major concern is whether or not Trump will provide specific details and timelines. If his plans seem too vague or without an execution plan, it could likely weigh on the greenback.
BEIJING (Reuters) — China’s FX regulator said Monday that it will strengthen supervision of the foreign exchange market in 2017, while improving policy transparency and promoting the further opening of financial markets.
SINGAPORE — When Malaysia forced foreign investors in its markets not to dabble in offshore derivatives in its currency last year, its target was speculative pressure on the ringgit, but it appears to have shot itself in the foot.
Next trading day's important events
- USDJPY: 112.30
- EURUSD: 1.0597
- S&P 500: 2367.34
- NASDAQ: 5845.31