US equity sell off accelerated last week with it recording a sharp 10% decline spread across 2 weeks. The selloff was accelerated by worries about tightening by central banks worldwide that would bring to an end the availability of easy money.
Last week ended with the dollar moving higher on Friday following the US jobs data indicating that hiring activity and wage growth were bullish in January, paving the way for swifter rate increase by the Fed this year.
Trump’s previous security advisor Flynn submitted a guilty plea to Special counsel Mueller for lying to the FBI, Trump moved quickly to disown him and labelled him as part of ‘Obama’s old team’.
Monday started off with the news that Merkel has lost support of her coalition partner FDP denting her chance to form the 4th consecutive government in Germany.