In a very surreal press conference Donald Trump talked about himself and his relations with Putin, media and the press instead of giving more details about the way he will govern.
Markets appeared nervous from this development and USD started to have some moderate losses. In general, his speech did not surprise those who have noticed the special temperament of the new president.
Trump has some very strong friends and enemies from the business and economic cycle. Yesterday, he added some enemies when he attacked to pharmaceuticals companies by blaming them that they charge too much for their products.
Market responded immediately by sending the Pharmaceuticals Topix’s down 2.7 per cent. We expect the market would raise additional questions and worries from yesterday’s press conference about a possible trade war between U.S and other countries. We should keep in mind that the vote of confidence that market gave on 7th of November on Donald Trump can have an expiry day.
We think that this year might be a good year full of opportunities for day traders as we have got a completely new style of government and communication.Bitcoin continue to drop without end and reminds us how risky it is to enter an overcrowded recently innovated cryptocurrency while ignoring gold, a safe haven metal with thousands of year history.
Today it will be wise to focus on the plenty of Fed speeches and how the market will digest Trump press conference.
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- French inflation confirmed at more than two-year high of 0.8%
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