Private DCN Private DCN - US Dollar

USD: dollar down in Trump’s first week as President

By Smart Currency January 24th, 2017

Trump has given the markets plenty to worry about. He’s announced that he wants the US to withdraw from the Trans-Pacific Partnership (TPP), a trade deal which covers 40% of the world’s economy, and he’s already targeted ObamaCare.

Data-wise, this week will be fairly quiet, until Friday when the Gross Domestic Product figures for the fourth quarter will be released. Forecasters expect a 2.2% advance for the fourth quarter, down from the 3.5% in the third quarter.

Overall, this suggests that the US economy grew by 1.6% in 2016, which is down from the 2.6% in 2015. This could further weaken the dollar.

For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.