During the first week under the new president, the dollar lost about 1% of its value, weighed down by Trump's failure to implement any immediate tariff measures. During his speech at the World Economic Forum in Davos, he also called for further rate cuts. Lower interest rates in the United States mean a cheaper dollar.
On the other hand, the US Federal Reserve is not inclined to dance to the president’s tune. It is unlikely that Fed Chairman Jerome Powell will announce an interest rate cut on January 29th. In the meantime, let's take a look at the economic data scheduled for release on January 27th and 28th.
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