Trump to announce something “bigly” on infrastructure?
- Unlikely to say much about taxes. But he’s going to announce something “big” on infrastructure.
- Some clarity on the potential size and/or timeline of any massive infrastructure plan, could bring USD under renewed buying interest (equities too).
- However, a more vague speech, with no clear details or numbers, could lead to downside USD correction.
- Also, watch out for any comments on the one-time repatriation of corporate cash held abroad (a confirmation of that could boost USD too).
- Sweden: GDP for Q4 and retail sales for Jan. Both exp. to show progress. SEK-positive.
- US: 2nd estimate of Q4 GDP is exp. to be revised up. USD-positive, but the main focus will be on Trump’s speech. Also, Chicago PMI and CB consumer confidence index, both for Feb.
- Speakers: Besides US President Trump, San Francisco Fed President John Williams.