What to Look out for Today – Is the USD in Trouble Again?

As you might have already been informed of the Trump administration has released another one of its high-ranking officials – the tenth since the beginning of its presidency – Anthony Scaramucci the White House Communications Director was let go today. The market sentiment regarding the greenback has been less than favorable. Political turmoil, speculation whether campaign promises regarding economic reform will actually be implemented against legislative resistance and scandal which has characterized this administration – causing the dollar to slip opposite other major currencies - has been further bogged down by a dovish Federal Reserve interest rate policy.

The US is not without positive economic data though – it seems like the U.S. Economy might be ramping up during the second quarter. The onslaught of this week’s economic data coming out of the United States – will either confirm or disprove this speculation of U.S. economic growth.
It seems that economic growth is the plat du jour globally and this was reflected in the nearly monthly gains stocks have been experienced. This growth actually marks the first uninterrupted stock price gains in the past decade.

Even commodities seem to be faring better than the dollar, with oil still in area of $50/barrel, gold is currently at 1267.24, silver price is $16.93.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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