Starting Trump 2.0 with a firm USD – DBS
Source Fxstreet
US President-elect Donald Trump’s inauguration on Monday should underpin the USD Index (DXY) this week, DBS' Senior FX Strategist Philip Wee notes.
Fed to become more cautious on rate cuts
"Trump had pledged to impose tariffs on his first day of office, particularly on goods entering the US from Canada, Mexico, and China. We expect the Fed to keep rates unchanged at 4.25-4.50% at the FOMC meeting on January 28-29."
"The Fed will likely become more cautious on rate cuts from Trump’s tariffs lifting US inflation expectations. Treasury Secretary Yellen warned that the reinstated statutory debt limit would be reached on January 21, with her agency taking extraordinary measures through March 14."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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The USD/JPY pair attracts some buyers during the Asian session on Monday and climbs back above the 153.00 mark following the disappointing release of Japan's Q4 GDP report.
Gold (XAU/USD) attracts fresh sellers at the start of a new week and reverses a part of Friday's strong move up of over $150 from sub-$4,900 levels.
Silver price retreats during the North American session nearly 1%, after reaching a daily high of $78.20.
Gold price (XAU/USD) extends its losses for the second successive session, trading around $4,930 per troy ounce during the Asian hours on Tuesday.
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