๐บ๐ธ The first day after the inauguration of the 47th President of the USA, Donald Trump, begins with financial markets feeling the heat ๐ฅ following initial White House decisions.
๐๏ธ Key Highlights from Trumpโs First Day in Office:
- ๐ Executive Orders Galore: Trump signed numerous executive orders yesterday.
- ๐ฑ Trade Tariffs: A 25% tariff on ๐ฒ๐ฝ Mexico and ๐จ๐ฆ Canada will take effect on 1 February. Imports from Mexico ($470B) and Canada ($420B) may soon face retaliatory measures, raising risks for ๐บ๐ธ US businesses. ๐จ๐ณ China is also under pressure with potential tariffs if a TikTok acquisition deal isnโt finalised.
๐ Market Reactions:
- ๐ Forex: The Mexican peso ๐ฒ๐ฝ and Canadian dollar ๐จ๐ฆ are the dayโs biggest losers, while the US dollar ๐ต is clawing back losses. At publication: USDMXN: +1.36% USDCAD: +0.95%
- ๐ Indices: Asia-Pacific Markets: Mixed sentiment ๐จ๐ณ China: -0.50% to -0.80% ๐ฏ๐ต Japan: +0.05% ๐ธ๐ฌ Singapore: -0.30% ๐ฆ๐บ Australia: +0.35%
๐๏ธ Notable Executive Orders Signed by Trump:
- ๐ Government Efficiency: A new department, led by Elon Musk, to improve federal operations.
- ๐ณ๏ธโ๐ Policy Reversals: Overturned 78 Biden-era measures, including those on diversity and LGBTQ+ rights.
- ๐ Paris Agreement: Withdrew ๐บ๐ธ from the 2015 climate pact.
- ๐ฅ WHO Exit: Announced plans to leave the World Health Organization, citing financial concerns.
- ๐ Immigration: Declared a state of emergency at the border and introduced restrictions on birthright citizenship.
- โฝ Energy Emergency: Expanded fossil fuel drilling and exports.
- โง๏ธ Gender Policy: Restricted federal recognition to two genders.
- โณ TikTok Ban Delay: Postponed the federal ban for 75 days to review its impact.
- ๐ Electric Vehicle Policy: Reversed Bidenโs green automotive standards.
๐ The day starts with high volatility and significant political shifts. Stay tuned for further updates!
๐๐ฅ #Markets #Trump #Forex #USPolicy
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