Yesterday the US Treasury Secretary Steven Mnuchin voiced his opinion that he favors the easing of the national currency. At the Economic Forum in Davos he told reporters that the weakening of the dollar is a positive factor for international trade and new opportunities.
In addition, today Donald Trump is arriving in Davos; on Friday he gave a speech that his statement "America first" does not preclude globalization. This evening he is set to meet with the heads of other countries and convince them that the United States can now invest, since the introduction of the new tax rules was implemented, reducing taxes and improving the investment climate for new investors. Also at the press conference the US President is going to talk about the economic achievements of the US: the economy and the stock market are evolving and will continue to grow.
Today there is a press conference of the ECB, which will undoubtedly affect the stability of the single currency. After the meeting we expec to hear about the ECB's decision on interest rates and maybe we'll receive hints about the shortening or termination of the bond repurchase program. Furthermore, we expect that during his speech Mario Draghi will announce the ECB's forecasts and plans for strengthening the single currency. Furthermore, in the past year we have heard concerns from members of Parliament and the ECB that they are concerned about the strengthening of the Euro.
After the release yesterday in the US of inventory data and the production of energy, the quotes for the Brent crude started to climb and today reached the level of December 2014 of $71.20 per barrel.
