Trump warns US companies about moving jobs overseas

President Elect Donald Trump has used Twitter to warn US companies about moving jobs overseas in the coming financial year, stating ‘35% tax on companies wanting to sell their products back across the border’. He took aim at US companies who want to produce products from outside the US, then sell them back into the US markets. He has also contacted the President of Taiwan over the weekend, which could infuriate China. There has been no direct relations since 1980 and China sees the tiny country as direct competition for its own products.

ECB likely to extend bond purchasing programme

The European Central Bank is likely to extend its Bond purchasing programme (QE) this week, which again could weaken the Euro. Mario Draghi has been toying with the idea for a number of months in the hope his move will move inflation closer to the 2% target, as well as kick start the economy.

Main data to come from UK

Main data today comes from the UK with CIPS UK Services & Eurozone Retail Sales. The US has a number of key note speakers out and about this afternoon talking plus ISM Non-Manufacturing Composite to digest.

 

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