Afternoon Market Update – 11/01/2017 – by Jaz Singh

As we await Donald Trump’s first press conference as President-elect, dollar bulls have come back to the table in morning trade. The dollar index is up just over 0.3 percent as the pound, Mexican peso and Turkish lira extend declines. Off the back of mixed data in the UK, we saw the pound kick lower as cable tested the 1.21 level to the downside while EUR/USD trades near the 1.05 handle. Equities are on the rise both in Europe and across the pond; the Stoxx Europe 600 has added some 0.2 percent while the FTSE 100 continues its climb for the 12th consecutive day. The commodity complex has had a strong start to the session with crude adding some 1 percent while iron ore adds 3 percent after a 5.5 percent rally yesterday. Other than Trump’s aforementioned press conference this afternoon, Mark Carney of the Bank of England is also due to speak at 14:30 GMT.