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.”


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

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and 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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