So, Donald Trump decided to fire his head of FBI Comey. The official White House statement cited the reason for Comey's dismissal was his inability to deal with the Clinton email scandal. However, the cynics are circling, suggesting that Comey was getting rather close to uncovering 'The Donald's ' links with Russia pre-election. Apparently, Comey found out that he had been fired on who said that social media was a bad thing?Trump has got rid of one of the elites most prized assets within authority....could this be one decision too many for Trump? After all, he himself said "the job's not what I thought it was". The U.S dollar as a result, has been in the doldrums causing a few jitters amongst investors. The one positive note for the dollar though is that there is now a 90% probability of a June interest rate hike.
Following his straight forward victory in the French election, the smooth Emmanuel Macron announced to the world that he believes his country to be on "the verge of a great renaissance". Now, we know the French are on the verge of something, but the jury is out on exactly what Macron means by that.
The euro has taken advantage of weakness on the dollar as EUR/USD has surged through 1.10.
Meanwhile in the UK, the battle buses are out in force in the race for PM, in what is widely regarded as being one of the most one-sided contests seen in years. Diane Abbott (Labour's Shadow Home Secretary) has done her party no favours at all in her recent car-crash interviews! She boasts a Cambridge education, but one questions whether she actually turned up to her lectures after making such a mockery of simple maths, not once but twice! Obviously that wasn't the subject she studied at Uni. Bearing in mind that elections usually create a bit of uncertainty, the markets are indicating that Theresa May will have little problem getting re-elected as GBP/USD holds firm around the 1.29 mark.
Elsewhere, North Korea's Kim Jong-Un did his bit for world peace by firing yet another missile into the sea....this time landing 60 miles off the coast of Russia. President Putin responded by condemning the West for intimidating N.Korea.....interesting!
The Canadian dollar has shown some interesting moves and indeed been given a shot in the arm due to it's close correlation with oil. Both Saudi Arabia and Russia endorsed an extension on the agreement to cut oil production through to March 2018. The CAD surged higher on the news and was extra supported by investors lack of appetite to buy dollars. The CAD could be an interesting trade in the coming weeks.