APAC Markets Higher on Firm Commodity Prices

Eyes now turn to Mr Trump’s news conference, which will be followed for his outlook for his presidency with little over a week until he is sworn into office.

Markets and the dollar surged after his election as traders bet his plans for high infrastructure spending, low taxes and deregulation will fan growth and lead to higher inflation, forcing the Federal Reserve to hike borrowing costs.

But Stephen Innes, senior trader at OANDA, said in a note: “Traders will be viewing the speech with a high level of scrutiny (after) the market’s exhilaration over ‘Trumpenomics’.

“Initially, euphoria gave way to a more calculated approach to the (dollar) as we entered year end, and that has now morphed into a degree scepticism over the proposed US infrastructure spend.”

THE BUSINESS TIMES

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Stephen Innes

Stephen Innes

Senior Currency Trader and Analyst at OANDA
Stephen has over 25 years of experience in the financial markets and specializes in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is currently based in Singapore as a Senior Currency Trader and Analyst with OANDA, focusing on the movement of the Aussie Dollar and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Prior to joining OANDA, he worked with organizations like Cambridge Mercantile, Nat West, Garvin Guy Butler, Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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