Being the president of the world’s largest economy, Donald Trump is considered to be the most influential person when it comes to financial markets. Whatever policy changes were taken by Trump Administration during the last two months has had substantial effects on the equity and Forex currency markets. Trump promised during his campaign to increase infrastructure spending, introduce tax reforms and to slash regulations that were killing jobs. He wants to boost production in the US through tax subsidies for local businesses and increase consumerism. Forex market analysts have argued that Trump’s pro-growth policies will be a key driver for volatility in global FX markets going forward.
Trump’s disruptive immigration policies like the temporary travel ban imposed on Seven Muslim majority nations and his controversial comments on social media have put global equity and FX markets in a tailspin. For example, his comments about the withdrawal of US from the Trans-Pacific Partnership caused a huge impact on many of the Asian currencies like CNY and JPY. Since US Dollar is considered the global reserve currency, any changes in Fed policy like interest rate hike or tax reforms will have a notable impact on major currencies like EUR, GBP, CNY, CAD and JPY. The most affected currencies due to Trump’s policy changes are of the emerging markets such as Mexican peso, Turkish lira and South African rand. Trump’s controversial tweets targeting various Corporates or entire nations have impacted major currencies in a big way. Trump’s Twitter account has more than 18.8 million followers and is a major driving factor for investor sentiments across the globe. The below table illustrates the Trump effect on major currencies between US elections held on Nov 8th, 2016 and Jan 5th, 2017.
|Currency||% Change (vs. USD)|
The US Dollar index enjoyed substantial rally since Trump’s surprise victory in November elections and reached its 14-year high of 103.820 on Jan 3. The notable surge in US dollar was mainly due to the protectionist growth policies of the new President. But the greenback dipped by 3 per cent from its January 3 high after Trump raised a red flag over a strong dollar to the Wall Street Journal. He felt that Dollar was “too strong” for US companies to compete in global trade with their Chinese counterparts. He also blamed countries like China, Japan and Germany for manipulating currencies to get a trade benefit over the US. The remarks made by Trump over China and other nations in media resulted in the weakening of US dollar which Trump feels will favour US exports and boost manufacturing. It also led to the strengthening of Japanese Yen which is considered as a safe haven by currency traders. The US dollar dropped 0.6% against Japanese Yen to 111.95 Yen due to the uncertainty prevailing around trade policies by Trump. As a Forex trader, you should make use of real time trading charts and technical indicators to predict the future trends of currency movements, which will help you to make well-informed trading decisions.
Forex investors are eagerly awaiting Trump’s address to the US Congress on Feb 28th regarding changes in the monetary policy and possible corporate tax cuts. Trump Administration’s reflationary policies so far have had a positive impact on the US dollar and equities. The financial markets are interested to know about the tax reforms that will be proposed by Trump during his address to the Congress on Tuesday. The disruptive border adjustment tax that is under consideration by the Republican government under Trump aims at increasing taxes for imports and subsidises exports to boost manufacturing in the US. Russia has been on the positive side of Trump so far since he feels it’s a protectionist country which does not pose any threat to U.S. jobs. Hence, Russian Ruble has had a positive impact and has grown by 7.7% against U.S dollar.
Besides his proposal to build a wall between the US and Mexico, Trump has frequently opposed the NAFTA (North American Free Trade Agreement) during his campaign and wanted to restrict imports from Mexico and China by increasing the import tariffs. He promised to raise taxes for imports from Mexico and China by 35% and 45% respectively to reduce the imports from these countries. Such remarks have resulted in a considerable impact on both Chinese Yuan and Mexican Peso against the US dollar. Since Mexico is one of the biggest exporters to the US with more than 80.3% of its goods sent across border tax-free, scrapping of NAFTA and the introduction of new tariffs based on the proposed border tax reforms will have a great impact on the Mexican peso. His tweets have already weakened the Mexican peso against U.S dollar. It reached record lows of 21.619 when he criticised General Motors for exporting cars made in Mexico to the United States with the below Tweet. Ford motors also cancelled its production of $1.6 billion plant in Mexico in line with Trump’s policies to make in the USA.
“General Motors is sending Mexican made model of Chevy Cruze to U.S. car dealers-tax free across the border. Make in U.S.A.or pay big border tax!”
The dollar tumbled against Japanese Yen and moved below 113.00 due to the uncertainty prevailing around the tax reforms to be proposed by Trump during his address to Congress and possible interest rate hikes by the Federal Reserve. Steven Mnuchin, U.S. Treasury Secretary under Trump Administration, stated that lot of work is to be done towards tax reforms, which would encourage inflation and push US interest rates higher. He also added that the impact of the new government’s pro-growth policies is unlikely to be seen this year.
Trump has pointed out several times that fiscal debts are getting beyond control and he wants significant changes in the Fed policy. This could mean the reversal of Quantitative Easing and an increase in interest rates which will result in a strong dollar. There are possibilities that Trump might even appoint a new chair to Federal Reserve who will do whatever he says. If there is any announcement of interest rate hikes by US Federal Reserve during the upcoming FOMC meeting in March, we can expect a surge in US dollar once again, and this will have a negative impact on other currencies like Chinese Yuan, Japanese Yen, Euro and Mexican Peso. We can expect a lot of fluctuations in the currency markets based on Trump’s trade agenda and as a Forex trader, you should start considering about investing in Forex binary options to increase your returns.
What to Do if You Are Involved in a Truck Accident While Traveling
Any vehicle accident can potentially cause a lot of damage, not only to the vehicle itself but also to the passengers. One of the most fatal type of accident on the roads is an accident involving a truck. No matter where you are traveling to, or from, it is important to know the steps to take should you be involved in a truck accident. We are going to look at those steps in this article.
Step 1: Say Nothing That Admits Fault
After an accident, you may be required to speak to the police and Highway Patrol. While it is important to be truthful and answer any questions they have, you don’t want to elaborate or provide too much information. If you have any questions about the other party, you should limit yourself and just ask if they are hurt. No matter what you do, don’t apologize, don’t speak to the other driver, and don’t say anything like “I didn’t see you”. All of these things can come across as an admission that you are at fault. It is unlikely that fault can be determined at the accident scene, and you don’t want to risk jeopardizing your case by saying something you shouldn’t.
Step 2: See a Doctor
It’s wise to see your doctor immediately after an accident, even if you feel fine. Many people do feel okay after an accident, but they still have injuries that need checking out. Not only will this help to ensure your personal safety, but you will also have any injuries you sustained on record, should your truck accident lawyer need them when building your case.
Step 3: Notify Your Insurance Company
Your insurance policy should detail the steps you need to take to report a claim. You might also want to review your policy to see what kind of coverage you have, and how long you can expect to wait to receive a payout. Your insurance company may need extra information regarding the accident so be prepared for this.
Step 4: Contact an Attorney
Delay and procrastination can lead to a lost claim, so as soon as you have seen a doctor and notified your insurance company you’ll want to contact a truck accident attorney. Every state has different limitations regarding the statute of limitations for personal injury claims, so it’s wise to do this as soon as possible. If you were traveling out of state when the accident happened, you may need to speak to an attorney based in the state where the accident took place.
Your attorney will be able to look at the evidence you provided, as well as your medical records, and let you know whether you have the basis for a claim. The first meeting is usually free, too, so it’s always worth finding out if you could claim compensation. Whatever you do, don’t bow over to the trucking company’s lawyers, especially if you couldn’t have done anything to prevent the accident.
Have you ever been injured in a truck accident that wasn’t your fault? Let us know what happened in the comments.
GESAB, innovation and design with 25 years of experience
GESAB is a company with the guarantee of the future based on its basic pillars: ergonomics, innovation, design and technology on which GESAB develops all its projects for centers and control rooms.
GESAB, has more than 25 years of experience offering solutions for control centers. An experience identified by always being at the forefront of innovation and design, whose mission will be to offer all its customers solutions with the highest quality and functionality.
GESAB has a large team of architects, engineers and designers, which makes it easy to cover the project in a global way and offer a multitude of solutions. It is worth highlighting its integral projects developed in a unique and exclusive way to satisfy all the needs of the client, surprising them in every detail. In addition, the GESAB team develops lighting, design, interior design and ergonomics studies to look for a better performance in the work starting from the humanization of the means to produce it, that is, to give the control rooms the maximum functionality and character of their own.
The control centers developed by GESAB provide the integration of the most advanced technology. All its designs and consoles are unique and personalized, created for each client, working from comfort to project execution to ensure maximum quality. GESAB guarantees compliance with its basic principles of design and ergonomics within the control centers. Its design is the beginning of the renovation and technological update; its layout of room, visualizes the best workstations; its indicators and controls, facilitate the interaction with the design of the hardware and software of the control panel; its evaluation will review the components so that they are to the maximum performance and its environmental requirements improve the luminous, acoustic environment…
GESABs technical furniture complies with the highest standards in ergonomics and safety at work. Fantastic design and quality are present in all GESAB control consoles, to ensure maximum functionality and performance in this type of crucial environments.
These workspaces available 24 hours a day, 7 days a week place GESAB consoles on an operators main axis. GESABs work is carried out in conjunction with the customer, allowing the development of fully customized and adapted control rooms. From technical furniture, through ergonomic chairs, audiovisual equipment, design, technical flooring, ambient lighting or acoustic panels. GESAB is able to face small and big challenges all over the world, looking for complete and innovative solutions that are not only limited to operator control consoles, but also include ergonomic solutions and the most advanced technology.
In addition, all GESAB components are based on a safety principle in their products. These include the personalized control panels that include the switchboards and synoptic panels, all for the most sophisticated and technical environments, where precision is key, taking a further step towards innovation. GESAB has already had many success stories, and are related to all sectors, whether energy companies, civil protection, security, systems management, finance, telecommunications, traffic control or airport due to the advantages it offers for companies such as increased productivity and energy efficiency.
GESAB has developed the new generation with a revolutionary solution that puts the operator at the heart of the action through the management, administration, control of equipment and information sources bringing visual ergonomics to a new dimension.
The Sweet Caroline of Dogers Owner
Mark Walter is a billionaire and CEO at Guggenheim Partners LLC. Is he driving Guggenheim towards the beginning of the end? Are the owners of the L.A. Dodgers being dodged???
Guggenheim has established its name and a tradition of innovation in the past decade. It has emerged as a new player in the financial markets focusing on mergers and acquisitions, insurance and wealth management and has over $300 billion in money management.
Guggenheim has become known as the “New Goldman Sachs”. It has become a renowned recruiter of the best talent in the industry (including Bear Stearns CEO Alan Swartz). Guggenheim continually makes the cover page in most financial papers, including The Financial Times and The Wall Street Journal. Lately, Guggenheim has been appearing in the press for all of the wrong reasons or for the LA Dodgers making it to the World Series.
But the tide is beginning to turn on Walter and Guggenheim. The news now regularly includes information on CEO Walter and his relationship with Alexandra Court (a South African citizen, former corporate lawyer at Clifford Chance and who also did stints with UBS and Credit Suisse)
Ms. Court’s hiring and promotion has seemingly created power struggles within Guggenheim and in-fighting with its brilliant Chief Investment Officer Scott Minerd.
The current situation seems to be nothing new for Walter. He has previously clashed with founding partners including Morley, Curcio and Boehly – all of these individuals left Guggenheim with extremely generous (nine-digit) severance packages. More telling is that only six managing partners remain. New information is coming to light every day. It is no wonder that Ms. Court is trying to negotiate her departure and is reportedly asking for $100 million severance and a mansion.
Walter has his allies – ABS Capital Company (an offshore company and owner of Walter’s Malibu estate); a number of Latin American sophisticated agents; and another blond female “Caroline” working now at Guggenheim. Do these allies recognize that their reputations and jobs are on the line with the investigation and questioning of the origins of the dollars through the sophisticated insurance structures.
The latest theory is that Walter will walk out. Looks like it could be a larger blow than we actually think. Do not blink or you will miss something.
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