Monthly Archives: November 2024
Trump’s Tariff Policies Push Dollar Higher
Written on November 28, 2024 at 6:30 am, by
Market Summary The dollar surged to a recent high, recovering from yesterday’s retreat, driven by President-elect Donald Trump’s threats of 25% tariffs on Canada, China, and Mexico. These protectionist measures boosted dollar momentum but weighed heavily on the Canadian dollar. While Wall Street posted gains, concerns over tariffs on China could negatively impact Chinese equityContinue Reading
Dollar Plummet on Trump’s Treasury Secretary Speculation
Written on November 28, 2024 at 6:12 am, by
Market Summary The U.S. Dollar faced a sell-off during the Asian session as market sentiment shifted with speculation around Donald Trump’s potential Cabinet appointments. Reports suggest Scott Bessent may be considered for Treasury Secretary, a move viewed as bond-market friendly, leading to lower Treasury yields and pressuring the dollar. Despite this, the dollar’s fundamental strengthContinue Reading
Dollar Strengthen on Robust Job Data
Written on November 28, 2024 at 5:49 am, by
Market Summary The dollar regained strength after a brief technical correction, with the Dollar Index (DXY) rising above the 107 mark, bolstered by strong U.S. job data. Initial Jobless Claims came in below market expectations, signalling a resilient labour market and potentially paving the way for a more hawkish Fed stance. The Japanese yen alsoContinue Reading
