DXY was smashed Trump Day 1.
AUID rose from the dead.
Even the lead boots rose.
Gold and oil hosed off.
Copper too.
Miners are laggards.
Make EM great again?
Junk firming.
Yields not so impressed.
Stocks to the moon.
Trump 2.0 is here and it started slowly on tariffs, lifting markets.
President Donald Trump held off unveiling China-specific tariffs on his first day on office, instead ordering his administration to address unfair trade practices globally and investigate whether Beijing had complied with a deal signed during his first term.
The moves — detailed in a fact sheet that is not yet public — are aimed at “reversing the destructive impact of globalist, America last trade policy,” according to a copy seen by Bloomberg News. The also called for key federal agencies to address currency manipulation by other countries.
Add some more yawnulus.
President Xi Jinping called for China to implement more proactive macroeconomic policies this year to maintain growth momentum as the world’s No. 2 economy could be facing new US tariffs.
The Chinese leader said the country should seek progress while maintaining stability. He also reiterated his call to promote high-level scientific and technological self-reliance, the official Xinhua News Agency reported on Monday, citing remarks at an event for the Lunar New Year in Beijing.
With the market so short AUD, there is room for a goodly squeeze here.
I wouldn’t call it the bottom yet. China failed to implement any of the Trump 1.0 trade deal.
That will come out with the studies and the trade war will begin one way or another.
