All of the focus in markets right now is on President Trump’s inauguration and what his first order of business will be. There are many sources suggesting Trump will invoke emergency powers as part of a plan to unleash domestic energy production while also reversing President Biden’s initiatives on climate change.
There is also significant anticipation around what the president will do with respect to tariffs. Things are a little trickier, considering all of this is happening on MLK Day with much of the U.S. market out for the holiday.
Earlier today, the PBOC left rates unchanged, German producer prices were softer, while Eurozone construction output was stronger.
The only other notable standout on today’s calendar for the remainder of the day comes from the Bank of Canada Business Outlook Survey.
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