Financial markets gave a mixed verdict on US President Donald Trump’s first day in office as traders took heart from an absence of immediate sweeping tariffs on all trade partners, while also expressing caution over likely future measures. Chinese shares led gains in Asia after Trump at least initially opted against announcing any new levies on the country. At the same time, the dollar rose as he said he planned to impose threatened tariffs of as much as 25% on Canadian and Mexican imports as soon as Feb. 1. Treasuries advanced. The limited commentary on trade restrictions so far underscores the risk of higher volatility across financial markets as he kickstarts his second four-year term. The whipsaw trading in Asia came after US stock futures had rallied and the dollar fell Monday when Trump had appeared to be holding off from using executive orders to impose higher global tariffs. The Canadian dollar and Mexican peso both tumbled as much as 1.4% following Trump’s tariff threats. Bloomberg’s dollar gauge climbed 0.7%. Meanwhile, Treasury 10-year yields fell 9 basis points to 4.54% as traders recalibrated inflation bets in the absence of sweeping levies. Investors had been on tenterhooks for the first executive orders to stem from the White House after Trump vowed to quickly implement his “America First” agenda. Since his November election victory, everything from the Australian dollar to European equities had been whipsawed on concern widespread tariffs would add to global trade frictions, while the dollar surged as the Federal Reserve turned more cautious on easing policy. The yen was the only Group-of-10 currency to gain versus the dollar, rising to a one-month high, as traders positioned for a possible Bank of Japan interest-rate hike at a policy decision due Friday. While refraining from imposing new China tariffs, Trump ordered his administration to address unfair trade practices globally and investigate whether Beijing had complied with a deal signed during his first term. In commodities, oil swung between gains and losses as traders digested a slew of pledges and executive orders from Trump including plans to boost domestic production. Iron ore rallied, while Bitcoin dropped for a fourth day.
Nikkei +0.10% Hang Seng +0.89% CSI +0.06% Shanghai -0.14% Shenzen -0.17%
Eur$ 1.0382 CNH CNY JPY GBP CHF RUB TRY WTI$ Gold BTC ETH
S&P +0.08% Nasdaq -0.05% EuroStoxx -0.39% FTSE -0.13% Dax -0.27% SMI
Macro :
- US Stock Futures Erase Gains After Trump’s Comments on Tariffs
- Trump Thinks He Would Enact Tariffs on Canada, Mexico on Feb. 1
- Europe Car Sales Stagnate as Consumers Shun Electric Vehicles
- Trump Will End Leasing to Massive Wind Farms: White House
- Trump Sued Over Musk ‘DOGE’ Effort by US Government Worker Union
- Trump Sued Over Musk ‘DOGE’ Effort by US Government Worker Union
- US Futures Should Benefit From Trump’s Limited Tariff Talk
- Putin Says Russia Is Open to Dialogue on Ukraine With Trump
- French PE Firm Ardian Raises €3.2 Billion Mid-Cap Growth Fund
Keep an eye on :
Keep an eye on :
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