Collinson FX Market Commentary - Jan 24

Collinson FX Market Commentary - Jan 24 - Trump spooks markets

by Collinson FX on 24 Jan 2017

From the S-W Archives: SKUD 18 sailing in rough weather at Sail Auckland 2013 Richard Gladwell www.photosport.co.nz

Collinson FX Market Commentary - Jan 24 - Trump spooks markets

Equity markets retreated from Fridays gains, spooked by the Trump administrations uncertainties, while the man signs executive orders. He has resigned from the TPP trade agreement and signalled the renegotiation of NAFTA, while promising a 'massive' reduction in regulation.

This was to encourage a large group of major businessman gathered at the White House and further promising 'huge' tax cuts!.

The Dollar also relinquished ground, with the GBP moving to 1.2500, while the Yen hit 113.00. The retreating reserve supported the commodity currencies, with the AUD holding 0.7550, while the NZD trades around 0.7200.

Expect a flood of activity from the White House, to drive market sentiment this week, shaping the administrations policy intent.

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