In a few hours time we would be having a new commander in chief for the United States. Apart from Commander in Chief, he is also known as Twitter In Chief. Yes guys, The new Mr. President is famous for by passing the normal mainstream media and posting his thought on Twitter. So why is that important for traders? It creates volatility….and volatility is needed to trade. His Twitter followers has reached 20.3 million this week from 19.9 million just a few weeks ago.
Trump has again and again brought up topic on the currency markets, which is rather unprecedented. He promised during the campaign to label China a currency manipulator as soon as he takes office. He has also been vocal on foreign trade, vowing to withdraw the US from the Trans-Pacific Partnership negotiations and singling out China, Mexico and Japan as contributing the most to the US’s trade deficit and costing US factory jobs.
“We have hundreds of billions of Dollars of losses on a yearly basis – hundreds of billions with China on trade and trade imbalance, with Japan, with Mexico, with just about everybody. We don’t make good deals anymore,” Trump said in New York last week.
Since becoming the President elect, Mr.Trump has used whatever strong arm tactics he could to persuade some big name manufacturers, such as General Motors, Ford Motor, Toyota Motor, Fiat Chrysler and United Technologies to re-direct their future capital spending, away from Mexico and towards the US instead. More to come when he officially steps in tomorrow.
Stay tuned for more of trump at @realDonaldTRump