Yesterday we saw US Inflation beat expectations to rise to 2.6% in October, leaving The Federal Reserve with a debate as to whether they cut interest rates in their last meeting before Trump's presidency begins, or whether they leave rates unchanged.
Contributing factors to inflation rising slightly were due to Energy Prices flat-lining last month, as opposed to a 1.9% drop in September, as well as an increase in Air Fares, although these were off-set by a drop in prices for clothes and furniture.
The US Dollar has kept gaining against both Sterling and Euro this morning after it was announced last night that Donald Trump had won at least 218 seats in the 435-member house after last week's victory in Arizona. With the triple victory of Presidency now confirmed, there isn't much standing in the way for Trump's agenda. After making a number of appointments to his party, the signal is clear that Trump will hit the ground running with his tax agenda and tariff hikes.
