Donald Trump Just Trying To Be Noticed With His Steel and Aluminum Tariffs
Investors are now less convinced that Donald Trump will impose the steel and aluminum tariffs. The majority believes that the President’s pledge was more of an attempt to draw everyone’s attention. But, Trump is stubbornly refusing to back down, despite the opposition from his own administration’s. Thus, DOW rose 336.7 points (1.37%) to 24874.76. S&P 500 increased 29.69 points (1.10%) at 2720.94. 10 year yield lifted 0.024 to 2.881. Nikkei rose 2.1%.
Japanese Yen weakened. Loonie is trading as the softest. Australian Dollar is boosted after RBA meeting, that marked improved outlook for wage growth. Overall, Australian growth is projected to be better than in the prior year. CPI inflation is expected to slightly exceed 2% this year. Interest rate remained untouched. Australian retail sales increased 0.1% mom in January. Current account deficit rose to AUD -14.0b in the fourth quarter.
Today’s data marks Swiss Consumer Price Index, Eurozone retail PMI, US factory orders and Canadian Ivey PMI.