The British monthly GDP is announced on Friday at 09:00 MT time.
German exporters don’t care about stronger euro
German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday.
The strong euro ins unable to cloud the upbeat mood among exporters now. The euro zone still appears to be the most crucial driver for German exports. That’s what Ifo head Clemens Fuest revealed.
In September, Ifo's indicator for export hopes inched up to 18.7 points from August’s outcome of 18.2, with managers from almost all industrial sectors giving a more positive outlook.
Only car makers had to cope with an evident damper. Currently there aren’t any opportunities for export surge, as Fuest told.
Germany's car industry, the country's number one exporter with 800,000 employees, is facing an emissions scandal.
European Union as well as German antitrust regulators are also trying to figure out whether Mercedes-Benz, Audi, Volkswagen, Porsche and BMW held secret gatherings to discuss prices, suppliers and standards to the disadvantage of foreign car makers.
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
The US unemployment claims are out on Thursday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.