Week Ahead Trump Speech Fails to Reignite Dollar Rally
– US 45th President is sworn in with markets looking forward to first 100 daysThe dollar is mixed against majors after the inauguration of President Trump.The markets did not get enough information on Friday to support the dollar as the tangible pro-growth agenda items were missing from the event.Trump’s speech was delivered in his combative style and he made a pledge to put America first. .
Will A Weaker Trump U.S. Dollar Be Toxic For Stocks? – SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA)
– Since Trump was elected president, there has been a sense in the financial markets that his policies to restore American manufacturing business would be at odds with a relatively strong US dollar.However, his direct comments on the issue have been limited in the press, until Friday January 13 in an interview with the WSJ Trump said: “the U.S. currency has gotten “too strong,” especially considering the China’s yuan is “dropping like a rock.””Our companies can’t compete with them now because our currency is too strong. .
Dollar weakens as Trump inaugural hits populist trade notes By Investing.com
– Dollar down as Trump beginsInvesting.com – The dollar weakened against a basket of currencies on Friday as Donald Trump became the 45th president of the United States and used his inaugural speech to hit populist themes on halting off-shoring of work that have raised concerns of a trade war with leading manufacturing exporters such as China.The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, dropped 0.31% to 100.79. changed hands at 114.59, down 0.24% after the speech and market close, while rose 0.23% to 1.2374 as the United Kingdom prepares to exit the European Union trade bloc and strike stronger trade ties to the U.S.was nearly flat at 1.3317 as investors awaited further word on the fate of the North American Free Trade Agreement that also includes Mexico in a massive trade bloc.The peso, tumbled 1.66% to 21.58 on expectations that Trump’s promise to build a wall on the southern border and impose some kind of import tax would hit current trade patterns hard. .