January 20, 2025
United States:
US Dollar Slips in Thin Trading Hours Before Trump’s Inauguration
The dollar fell sharply after a report that US President-elect Donald Trump would refrain from implementing aggressive tariffs immediately after his inauguration later in the day.
A Bloomberg gauge of the dollar extended losses to fall nearly 1% following the report, with thin liquidity due to a holiday in the US exacerbating the moves.
Europe:
ECB Can Cut Rates, But Caution Needed, Schnabel Tells Finanztip
The European Central Bank likely has room to continue lowering borrowing costs as inflation converges toward 2%, but must proceed carefully, Executive Board member Isabel Schnabel told Finanztip.
“We currently see no major risks that could prevent us from reaching our 2% target,” she said in an interview with Finanztip’s YouTube published on Sunday. “If that is the case, we will probably be able to lower interest rates further.”
Asia:
Xi Calls for Proactive Macro Policies to Keep China Momentum
President Xi Jinping called for China to implement more proactive macroeconomic policies this year to maintain growth momentum as the world’s No. 2 economy could be facing new US tariffs.
The Chinese leader said the country should seek progress while maintaining stability. He also reiterated his call to promote high-level scientific and technological self-reliance, the official Xinhua News Agency reported on Monday, citing remarks at an event for the Lunar New Year in Beijing.
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