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Trump's speech at the Swiss Franc Economic Forum addressed major Banks, oil prices, and Europe’s Institutions.
US President Trump spoke remotely at the World Economic Forum in Davos, Switzerland, on Thursday, marking his first appearance at an international event since returning to the White House earlier this week. In his 45-minute speech, Trump targeted European regulatory Institutions, claiming they are too strict on US Technology companies; oil producers keep oil prices at excessively high levels; large Banks refuse to serve conservatives. He also urged countries around the world to invest in the USA, promising low tax rates and a more relaxed regulatory framework.
Canadian Retail Sales Look to Have Jumped in December -- Market Talk
Swiss Franc central bank president: Tariffs will have a significant impact on the economy, and negative interest rates cannot be ruled out.
On January 23, Glonhui reported that the President of the Swiss National Bank, Martin Schlegel, stated that the scale of trade between Switzerland and the USA is enormous, and any tariffs would have a significant impact on the economy. Schlegel spoke during a panel discussion at the World Economic Forum in Davos on Thursday. This week, USA President Donald Trump just returned to the White House and threatened to impose tariffs on Europe. He has not mentioned that Switzerland could be a target of this action. "The USA is a very important trading partner for Switzerland," Schlegel remarked. "Switzerland is an open, small economy that is highly dependent on trade. We
CIBC Comments on Retail Sales Data in Canada
The expectation of interest rate cuts by the Bank of Canada suppresses the Canadian Dollar, and investors are paying attention to the divergence in monetary policy.
The Canadian dollar is weakening against the U.S. dollar, as investors expect the Bank of Canada to further lower the benchmark interest rate below the Federal Reserve's key rate at next week's monetary policy meeting.
Outlook for Dollar Bullish Near Term, Bearish for Canadian Currency -- Market Talk