Extra on that Wall Avenue Journal story that triggered to US greenback unload (massive time!)

I posted yesterday on the Wall Avenue Journal story leaking particulars of Trump’s ‘day one’ agenda, noting that he wasn’t going to implement tariffs:

• Leaks round Trump’s ‘day one’ government orders haven’t talked about tariffs in any respect

Whereas I urged warning, noting that Trump will be mercurial and risky with coverage bulletins (that is what’s Twitter is for in any case!) I put a 75 – 80% chance that it would be a ‘no tariff carried out’ day. That proved to be a very good name. For merchants, it meant a bid behind ‘threat’ and a proposal for the USD.

And that is what performed out.

Right here is the USD index since Monday morning my time (Sunday night US time when the Journal carried the story).

ForexLive kicks off the week on Sunday afternoon US time, and its days like this that make all of it worthwhile. I hope merchants on the market obtained some pips from this. Kudos to the WSJ for the report.

How Trump’s day performed out – he blabbed about tariffs however did nothing, as we anticipated and foreshadowed:

• Trump to put out commerce imaginative and prescient however will not impose tariffs but – report
• Trump inauguration speech highlights tariffs. US greenback bounces
• Trump official confirms earlier report that he will not impose Day 1 tariffs

This text was written by Aaron Cutchburt at www.ubaidahsan.com.



Source link