Trump’s latest Trumpeting sounded out a strong economy and stronger USD. Well, we’re about to find out if that’s true

A raft of US data today will put Donald Trump’s latest comments to the test. Putting out the fire lit by the Munchkin, he told CNBC that;

“Our country is becoming so economically strong again. The dollar is going to get stronger and stronger”

We’re going to see if he’s right at 13.30 GMT

The first reading of US Q4 GDP is released today and will be the first test of those comments. Here’s what’s up and expected;

  • US Q4 2017 GDP 3.0% exp vs 3.2% in Q3
  • Sales 3.2% vs 2.4% prior
  • PCE 1.8% vs 1.5% prior
  • Core PCE 1.6% vs 1.3% prior
  • Consumer spending 2.2% prior

Also out;

  • Dec 2017 advance goods trade balance. -69.99bn prior
  • Advance wholesale inventories. 0.8% prior
  • Advance retail inventories. 0.2% prior
  • Dec 2017 Durable goods 0.8% exp vs 1.3% prior
  • Ex-transport 0.5% exp vs -0.1% prior
  • Ex-defense 0.3% vs 1.0% prior
  • Cap goods orders non-def ex-air 0.5% exp vs -0.2% prior

Canada and the CAD are in the mix too with Dec 2017 CPI numbers

  • 1.9% exp vs 2.1% prior y/y
  • BOC core 1.3% prior y/y

Trump also be speaking from Davos from around 13.00 GMT

Lots to take in but GDP will be the number to watch today, and could well be a big mover for the dollar.


Ryan Littlestone

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