The United States Dollar took a bit of a dive after Trump suggests its strength may be bad for the U.S economy. The currency later strengthened after Janet Yellen reiterated the U.S Fed's hawkish interest rate outlook.
U.S Dollar Bullish ETF (UUP)
In Asia, China's government officials are admitting to extreme economic data manipulation. These new revelations further weaken the outlook for the world's second largest economy. Quote from CNN money:
"In some cases, officials inflated government income by more than 100%, according to Xinhua. Revenue for one Liaoning county was reported to be 2.4 billion yuan ($350 million) in 2013, but an audit office later corrected it to 1.1 billion yuan ($160 million)."
In Europe, there are new developments in the Brexit saga. The Pound is buoyed by Theresa May's decision to leave the final Brexit decision to a parliamentary vote. Next week, the U.K's Supreme Court will decide whether or not the British prime minister will need to get MP approval before triggering Article 50 and initiating the Brexit Process.
Gold spot prices hover around $1,200, silver $17.50, platinum $981, and palladium $748. The U.S equities market is flat; the Dollar regains much of the losses it sustained after Donald Trump's remarks and the Pound gains slightly.
