Today we have a relatively peaceful day on the financial markets. Much of the commotion typically comes from the United States, but markets there were closed yesterday for Thanksgiving, while today the country continues the long weekend with Black Friday. Thus, we don’t expect any developments from the US and likely nothing can affect the US dollar.
Things are a bit more interesting when it comes to Europe today. Despite a disappointing CPI reading from Germany yesterday, today Europe’s strongest economy registered an unexpected drop in unemployment. Moreover, the eurozone inflation rate was also better than forecasted, indicating that there may still be hope for the European Union’s single market.
In the United Kingdom, Boris Johnson gave a lengthy interview that touched upon key issues in the election campaign. He denied claims by Labour leader Jeremy Corbyn that the Conservative Party plans to sell the NHS to anyone, least of all US businesses. He also said his cabinet has begun drafting trade agreements to propose to other countries - after Brexit, the United Kingdom will have to negotiate individually with each EU member.
Furthermore, Boris Johnson made a statement that seemed to be addressed at Donald Trump, saying that the United Kingdom and the United States should not get involved in each other’s domestic affairs. He means the upcoming general elections in the United Kingdom, as well as the US Presidential elections next year.
Previously, Donald Trump expressed his opinion on the UK elections, criticizing Jeremy Corbyn and urging Boris Johnson to form a coalition with the Brexit Party. The support of the American President did not go well in the UK and was used by the Labour Party to attack Johnson, which is probably why he is asking Donald Trump not to meddle anymore.
