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Key Points
- CNN reported that President-elect Donald Trump is considering declaring an economic emergency under the International Economic Emergency Powers Act to justify imposing universal tariffs and introducing a new tariff program.
- According to the U.S. ADP National Employment Report, private employment increased by 122,000 in December, falling short of both the previous month’s figure and market expectations.
- Christopher Waller, a Federal Reserve Governor, stated that despite President Trump's tariff threats, inflation is expected to continue declining. He also expressed support for a rate cut this year.
- The FOMC meeting minutes revealed divided opinions among Fed officials regarding the inflationary and economic impacts of Trump’s policies, highlighting ongoing uncertainty in Fed monetary policy.
- Attention is being drawn to the surge in UK gilt yields, which could increase the likelihood of an expanding fiscal deficit.
Key Economic Events This Week
+ January 10: U.S. Nonfarm Payrolls for December and Unemployment Rate
GBP/USD Chart Analysis
As previously expected, the price broke below the 1.25000 level and declined further to the 1.23000 level. The upward trend has been completely invalidated, and in the medium to long term, a bearish trend appears dominant. However, if the 1.23000 level holds, a short-term rise toward the 1.25000 level could be anticipated. On the other hand, if the price breaks below the 1.23000 level, a decline toward the 1.21000 level is expected.
