The US Dollar index fell a little over 1.5 percent from Wednesday highs today following President-elect Donald Trump’s first press conference since July. While many topics were covered, the particulars for the economy and trade which concern traders and investors were fewer than many had hoped.
Within the press conference, the incoming US President remarked on relations with two of the more common international relationships during the campaign and after. Trump addressed the United States’ diplomatic relationship with Russia, suggesting the country may have engaged in hacking. In reference to Mexico, he would suggest that their government has been accommodating, but stuck to the view that they would share in the cost of a wall at the two countries’ border – a physical barrier some DailyFX analysts believe will translate into a relationship obstruction.
Domestically, Trump spoke about business development in the US, and said that “there will be a major border tax on these companies that are leaving.” Details on the tax were not provided. Major issues regarding the President-elect’s position on general US trade policies, prospective fiscal stimulus and relations with China were notably absent from the press conference. Economists, analysts and investors are particularly interested in these broader points to guide their economic and market assessments for 2017 and beyond with speculative appetite already running hot.