The US dollar is expected to be tested this week as key employment data (JOLTS, claims, payroll) will influence Fed rate cut expectations, with a mildly softer dollar anticipated. Meanwhile, Spain's upgraded credit rating and eurozone CPI data could support the euro, while UK political developments and regional inflation figures in Central and Eastern Europe will also impact currency movements.
Keir Starmer's new Labour government is leveraging key events like the King's Speech to solidify its position and demonstrate its readiness to govern. With a strong majority, Starmer aims to turn campaign promises into reality, emphasizing energy and urgency while navigating the challenges of implementing a high number of planned new laws.
At the World Economic Forum 2024, UK's Labour Party plans to focus on economic growth, Argentina's president urges rejection of socialism, Dutch PM emphasizes the need for centrist parties to articulate key issues, Goldman Sachs CEO warns of market speculation on interest rate cuts, and JPMorgan executives discuss the potential negative impacts of AI. Additionally, discussions at the forum include the Iran nuclear deal, Russia's invasion of Ukraine, European banking M&A, Saudi Arabia's investment risks, and the impact of Red Sea turmoil on shipping.
UK Labour Party Leader Keir Starmer promises "a decade of national renewal" during his disrupted conference speech, which was briefly interrupted by a protester. Starmer highlighted the party's transformation since its 2019 election defeat and emphasized a shift away from gesture politics towards a focus on service. He pledged to build 1.5 million new homes, accelerate the National Grid, and invest in infrastructure to stimulate economic growth. Starmer also announced plans for a publicly-owned national energy company, technical excellence colleges, and a national wealth fund. Labour holds a significant lead over the Conservative Party in polls, but Starmer warned of a tough fight ahead in the upcoming election.
