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Inauguration day

Posted on: January 20, 2017

Donald trump becomes the 45th President of the United State today. Is he the first ever TV reality star to become president? What’s going to be his first action as president? If he focus on fiscal stimulus and tax reform, that should be USD positive. If he goes for protectionism and renegotiate on free trade agreements, that might help USD in the short term but negative in the long term.

Canadian CPI and retail sales both came in a bit weaker than expectation at -0.2% and 0.2% respectively but of little consequence to USDCAD as everyone has their focus on the inauguration speech. USDCAD is trading in the 1.3350 since moving back up from the low 1.30 just before the Bank of Canada rate decision to keep rates unchanged. Now we are back into the middle of the 1.3100/1.3600 range since the beginning of November. With the divergence in Central bank policy, I expect it will test the 1.35/36 area in the next few weeks.

  • Previous Day’s NA Range 1.3267 - 1.3353
  • Asia overnight range 1.3285 – 1.3331
  • London overnight range 1.3287 - 1.3377

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