Tuesday’s US trading session was dominated by a Tweet from Donald Trump that said. “Had a very good telephone conversation with President Xi of China. We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting.” The Aussie Dollar rallied strongly post the statement gaining close to half a cent as any good news for China regarding a trade deal with the USA is initially seen as good news for emerging markets and closely aligned trading partners with China, which Australia is.
US stock indexes were also sharply higher and the safe haven currencies lower post Trumps tweet. The S&P 500 gained 1% and the Yen fell against all the major base currencies except the Euro as traders continued to support US stock indexes under the back drop of a potential US / China trade deal and lower interest rates at the Federal Reserve.
Donald Trump has been openly criticising the US Federal Reserve Chairman arguing the Fed should not have raised rates as far as they did and the economy now needs rate cuts. Bloomberg and financial news networks are reporting this morning that when the President was asked if he still wants to demote Federal Reserve Chairman Jerome Powell, told reporters Tuesday, “Let’s see what he does.”
Donald Trump threatens the independence of the US Central Bank by attempting to meddle in its affairs. He also openly criticised the European Central Bank on Tuesday Tweeting “Mario Draghi just announced more stimulus could come, which immediately dropped the Euro against the Dollar, making it unfairly easier for them to compete against the USA. They have been getting away with this for years, along with China and others. Moments later he tweeted “European Markets rose on comments (unfair to U.S.) made today by Mario D!”
Andrew is a professional trader and successful investor who has a strong focus on education.
He is a regular Sky News Money Channel Guest and one Australia’s most awarded and respected financial experts, and is regularly contacted by the Australian Media for the latest on what is happening with the Australian Dollar.
Director at LTG GoldRock, Andrew Barnett, guides thousands of traders around the world in the live market on a daily basis, advising them on buy and sell directions, as well as trading his own personal account.
Andrew, a regular key-note speaker at trading and wealth-creation events throughout the Asia Pacific region, is an authorized representative registered with the Australian Securities and Investment Commission (ASIC).
Currently Andrew is living his dream life on the Sunshine Coast with his loving wife and three children.