The Big Picture
Donald Trump has presented his plans for the first 100 days in office. The announcement was done by video, this type of announcement differs greatly to his predecessors, who preferred to give press conferences. Even in such details, Trump wants to show that he is ”different“. His first executive order will be to exit the TTP trade agreement. This agreement was one president
Obama´s most important projects. The planned free trade zone was to include The USA, Japan, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, together amounting to 40% of worldwide economic activity. This agreement was also thought to be a defense against China. Trump´s video however misses any mention of his election pledge to build a wall to Mexico or to change Obamacare.
The DAX is in a sideways trend. Resistance is at 10820, support at 10250.
Euro / USD
The Euro is in a downward trend.
USD / JPY
The USD is in an upward trend
Gold is bottoming; SUPPORT is seen at 1200 USD
WTI Oil is in an upward trend
Coming political events are casting a shadow over the DAX. The upcoming Italian referendum represents a very important moment for Europe. Should the constitutional referendum fail this would be a major issue for Renzi and the European Union. After initial strong weakness, the DAX managed to close in slightly positive territory. Bullish momentum continues in US markets, feeding on expectations of a growing economy through infrastructure programs, tax reduction bay Trump. In addition, rising oil prices are also helping Wall Street to rise. The S&P 500, Nasdaq, Dow Jones and Russel 2000 all managed to make new all-time highs this Monday. The S&P gaining 0.75%. Asian markets are showing strength this morning. The USD is unchanged. Gold trades up whilst WTI Oil gains 1.41%.
14:30 USA: Existing Home Sales
RoboForex Analytical Department
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