Markets:
Gold up $7 to $2708Canada 10-year yields down 2 bps to 3.28%WTI crude oil down $0.99 to $76.89S&P 500 futures up 0.4%NZD leads, USD lagsThe big move of Day 1 of Trump's second term was a weakening dollar. The dollar fell 50-100 pips across the board after a report -- later confirmed -- that Trump won't be imposing any tariffs on Day One. Instead, he plans a memo that will study trade relationships with China, Mexico and Canada among others.
The dollar bounced when he mentioned putting on tariffs in his first speech but that rebound later faded and the dollar is rounding out the day near the lows.
The takeaway is positive for global growth and suggests a plan to negotiate before putting on tariffs, not afterwards .At the very least that buys some time and at best signals someone who is never going to put on strong tariffs. Of course, there are going to be many twists and turns on the tariff road but the dollar falling on the first day of his Presidency argues that there are still opportunities internationally and that growth (and global growth) remain priorities.
Over in crypto, Trump's 'official' meme coin is down 43% on a sell-the-fact trade and the entire space has been volatile. In US trading, bitcoin fell close to $100K but held the line and has bounced to $104K. There was some disappointment as crypto wasn't mentioned in any early documents or his first speeches.
I would expect to see more of a relief trade in Asia, at least until Trump tweets or leaks his latest ideas.
This article was written by Adam Button at www.forexlive.com.Hence then, the article about forexlive americas fx news wrap trump takes office was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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