The New Year is approaching and everyone is preparing for more events that could affect the movements of global financial markets. This week's economic calendar is clear of important economic data, and we will note the weakness of trading volume during the next few days due to Christmas holidays.
Markets are eyeing the United States following a lack of agreement between Congress and Trump on the spending bill, which led to a partial closure of the US government. Also, there have been reports of US President Donald Trump's intention to remove Federal Reserve Chairman Jerome Powell from office, which was denied by the Treasury Secretary, stressing only Trump's dissatisfaction with the Fed's monetary tightening policy at the moment.
The US dollar fell in today's weak trading to its daily low of 96.66, and with stabilizing higher than levels of 96; we could see some recovery may strengthen the dollar index, possibly up to 97 levels. The dollar saw slight declines against most of its rivals today.
Also, the markets will monitor the developments of Brexit, and will wait for the Parliament to vote on the Brexit. Also, the developments in tensions between the US and China will have a share of market control during the current period.
