Washington Bluster

‘Trump talk trashes markets’ –

The greenback also came under pressure after New York Federal Reserve President William Dudley cautioned it would “take some time” for US inflation to reach the bank’s two percent target, the latest warning price pressures remain muted.

US producer prices Thursday disappointed, as traders await consumer price inflation later Friday.

However, market watchers said equity markets remained focused on the deepening geopolitical crisis, as angry threats from Washington and Pyongyang stoke fears of a catastrophic miscalculation with global consequences.

“Most certainly the market was hoping for some upbeat assessment from Fed Bill Dudley, but it’s silly to put the blame game on him when in reality the market attention was focused elsewhere,” said Oanda’s Stephen Innes.

“Not to mince views here, it was Trump talk that trashed the equity markets, nothing more nothing less.”

AFP

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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

Latest posts by Stephen Innes (see all)