 Good morning and welcome to your news update. The DAX went up by a hundred points yesterday. The pound went up from 120 versus the US dollar to went 124 There were series of maim Given the speech as we all know in my opinion, it wasn't how the press interpreted the speech It wasn't that this hard and cold Brexit will come No matter what the consequences that was the expectation up front that was why the pound went down so strongly in my opinion that was not the takeaways from that speech the takeaways from that speech is that she still wants to have Maximum access to the single market without being a member of the single market So there will be some backs and forths and there's still some room in those negotiations and theories may in my opinion has shown that she is very very open to To any negotiations So there will be no hard and cold Brexit coming and that is my opinion The reason why the pound went up in ten days There will be the Chinese New Year seeks in pin the Chinese president visited friends in Davos as he said yesterday He held a very value-oriented speech yesterday That is in comparison to Trump who is a very business focused politician He does not do any value politics and at the same time They were Chinese officials and academics trying to reach out to Trump to help interpret remarks that he Has made in the past days, especially those regarding Taiwan There were two newspapers out of China state-driven newspapers That said that they will take off the cloths if Trump continues to be as talk as he did and That was a mixture of very soft seeks in pin president speech in Davos and very harsh articles in the press and in the media so clear communication there is a There is a clear stop for for China and that seems to be the one China question Putin at the same time said that US intelligent agencies must have practiced in the Ukraine And now they do the same tried to make a soft coup against Trump in Washington That's what Trump what Putin said and that's also Trump's opinion that the sent the intelligent agencies are somehow working against him or somehow like along those lines the vix and that is a stonish It's astonishing still the vix volatility index for the S&P 500 indexes near Is very low and the positioning is A near record shorts that are in those markets So if you have near record shorts in a volatility index, it means that everyone expects that there will be Sailing going on in the equity markets, but it's that probable Trump has said that before he was elected that equities are in a huge bubble and Now Trump has another market Analysis going out and that is that the US dollar is too strong. It's killing the US industry He said in an interview with with the Wall Street Journal that leaked out yesterday The reason regarding according to Trump is not the Federal Reserve Which is norm trying to normalize their monetary policy. It's not the US economy But it's the Chinese you won It's dropping like a stone is that and that is the reason why the US dollar is so strong