Investors await European economic data today at 17.00 p.m. with optimistic expectation because the fourth quarter GDP of EU forecast higher 0.1% while euro hold steady early on Monday. In my view, If GDP is higher than 2.7%, it may give strong boost for euro for short-term. Euro may rise to 1.2600 dollar, if it can break 1.2420 dollar but it also may drop lower to 1.2300 points.
Mnuchin said 'the massive investment' is coming back into the United State because of the tax cut. This factor may support the CB consumer confident at 22.00 higher than 123.0 so this year we may see new all-time high record in New York stock exchange. For short-term Dow Jones may edge higher and greenback may recover after falling 3-year low. I suggest to keep eyes on Trump’s policy “American first” and how other countries effect.
If dollar become stronger, pound may edge lower than 1.4000 as no good supporting factor. BoE chair Carney will give a speech at 22.30 p.m. and his speech may help pound hold steady. I think if Carney gives some positive signal about U.K. economy or inflation, it may help pound to stay higher than 1.4000 dollar.
Bitcoin markets and cryptocurrencies values across the board are seeing healthy rebounds after the past three weeks of price dips. There are more countries see the potential of cryptocurrency such as Former Russian Finance Minister Alexei Kudrin favors “self-regulation” in the cryptocurrency sector. He believes it will be more effective, at this early stage, than any imposed regulations.
By Niramon Nitnitiphruet
Financial analyst, Olymp Trade