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).



Today’s highlights:

  • 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.
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