In Asia, moods were uplifted as economic data from China, albeit mixed, remained on the positive territory. That is why we expect to be somewhat positive in Europe, although early indications point to a lower opening. We expect the trade to be lower today due to the US celebration of Martin Luther King's Day. US banks and markets will not work, and the calendar for Europe is practically empty. We expect dollar bears today to take advantage of the lack of more traders and investors by giving the dollar index a little break, leading to a weakening.
Indicative levels of opens the main European indices:
DAX: -60 points
FTSE: -17 points
CAC: -19 points
The weekend was a time of bursting rumors around Brexit, as the latest information, Theresa May has given up the conversation with the other parties, and will look for alternatives such as changes to the points on the Irish backstop. Today we are expected to have a May statement to understand the next step and the proposal for a new action plan.
On the other side of the Atlantic, Trump continues his battle with the Senate, which does not lend himself to his demands for a budget to build a wall along its border with Mexico. The weekend was also the subject of a partial closure in the US, with Trump making a new proposal, which of course was rejected, and Nancy Pelosi described the situation as "hostage-keeping."
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