Market News

The Japanese yen continued to strengthen on Tuesday, with the dollar losing more than 1 percent overnight and continuing to fall during the morning hours.

Nervous investors pushed the US Dollar into reverse and favored the safe haven currencies after broad ranging protests over President Trump’s executive order on an immigration ban.

Donald Trump’s immigration halt on Friday sent Asian markets and Wall Street stock futures broadly lower on Monday, as traders expressed concern about how Trump’s protectionist policies would impact the global economy.

There will be a significantly heavier news schedule this week, compared to last week which was quite light.

The US dollar inched higher on Friday trading in Asia, recovering from the recently struck 7-week trough on a generally improved outlook for the US economy.

Though recovering now, the US Dollar continues to be shaky and earlier struck a 7-week trough as concerns grow over a perceived protectionist stance by the US President.

The Dow Jones Industrial Index finally broke through the psychological barrier of 20,000 and is making new all-time highs.

Among major economies and world currencies, the Australian Dollar was the obvious big mover after an unexpectedly disappointing inflation reading pushed the Aussie lower.

President Donald Trump yesterday signed executive orders smoothing the way for controversial new oil pipelines between Canada and the U.S.A. on the proviso that the raw materials used in construction (or the steel at least) will be “made in America”.

The US Dollar is recovering after being hit in the overnight hours on concerns that the US President will focus primarily on protectionism and not economic growth.

The Senate Foreign Relations Committee narrowly voted by 11 votes to 10 to confirm President Trump’s Nominee for Secretary of State, Rex Tillerson.

The US Dollar Index struck a 1½ month trough following Donald Trump’s inaugural speech on Friday which appeared more protectionist than was expected.

The dollar fell on Monday following Donald Trump’s inauguration speech which hinted towards protectionism, and his follow-up speech on Sunday which raised questions about America’s long-standing trade agreements, including Trump’s desire to renegotiate the North American Free Trade Agreement (NAFTA) and to withdraw from the Trans-Pacific Partnership (TPP), a 12-nation trade pact.

There will be a lighter news schedule this week, compared to last week which was reasonably full.

The US Dollar had held steady earlier in Friday trading in Asia but is now struggling for traction as investors ready themselves for the inauguration of Donald Trump as the 45th President of the United States.