The US Dollar Index (DXY), which tracks the value of the Greenback against six major currencies, traded lower and nearly broke below 109.00 on Monday (1/20) ahead of President-elect Donald Trump's inauguration as the 47th President of the United States (US). Several asset classes in the US will remain closed, such as Wall Street trading and US Treasury trading, in observance of Martin Luther King Day. This means volatile movements could occur in markets with thin liquidity.
All eyes will be on the post-inauguration, with President-elect Donald Trump having confirmed at a rally on Sunday that a series of new actions and executive orders will be issued. Chief among them, of course, are more tariffs, mass deportations starting in Chicago, and issuing a state of emergency for energy and border security, Bloomberg reported. By issuing the latter two regulations, the incoming President Trump could give the green light for massive drilling and mass deportations of illegal immigrants without having to go through Congress and the House of Representatives.
Source: FXStreet
The US Dollar Index (DXY), which tracks the value of the Greenback against six major currencies, traded lower and nearly broke below 109.00 on Monday (1/20) ahead of President-elect Donald Trump's inauguration as the 47th President of the United States (US). Several asset classes in the US will remain closed, such as Wall Street trading and US Treasury trading, in observance of Martin Luther King Day. This means volatile movements could occur in markets with thin liquidity.
All eyes will be on the post-inauguration, with President-elect Donald Trump having confirmed at a rally on Sunday that a series of new actions and executive orders will be issued. Chief among them, of course, are more tariffs, mass deportations starting in Chicago, and issuing a state of emergency for energy and border security, Bloomberg reported. By issuing the latter two regulations, the incoming President Trump could give the green light for massive drilling and mass deportations of illegal immigrants without having to go through Congress and the House of Representatives.
Source: FXStreet
