Daily Report by TrioMarkets

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.


Key points:

• Iraq sticks to Opec oil production cut target
  
• Moody's see Eurozone political risks rising
  
• US 10-year yields slip to November low on fading Trumpflation
  
• French inflation confirmed at more than two-year high of 0.8%
  

Daily Economic Calendar:

Trading Signals:

All eyes today will focus on Trump’s new conference. In a week with soft macroeconomic data, Trump will give the direction for markets. It will be valuable to remind that during the night of U.S election when it became known that Trump will be the next president of U.S, markets collapsed over uncertainty, however the large sell off had a very short duration as the speech that followed few hours later had a strong unitary character and drove markets into a n aggressive reversal.

We think that Trump today will have another speech that will promote U.S unity and will try reduce the division however Market today would like to hear the new president of U.S to give some more details about the way that will govern and many issues that markets consider important ( e.g tax reforms , infrastructure plans , protectionism etc ) .

While USD slips, Nasdaq hits new highs and Dow struggling once more time to touch 20K, it is very likely to see similar market reaction with the day of election after Trump’s speech.

Recently forex markets give some very steady and good movements. Unquestionably currencies give more opportunities than normally give and this is a good start for 2017.

Key points:

• Turkish Lira hits another record low
  
• French Macron: Euro may not exist in 10 years
  
• Gold at 6-week highs ahead of Trump new conference
  
• Turkish current account deficit swells
  
• Corbyn outlines 20:1 wage cap on government contractors
  
• US small business optimism jumps most since 1980
  
• FTSE 100 best run in 33 years
  

Daily Economic Calendar: