konga Ad Campaign konga Ad Campaign konga Ad Campaign
ADVERTISEMENT
  • The Membership Club
  • #EndSARS Dashboard
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Wednesday, July 6, 2022
Premium Times Nigeria
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
      • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
      • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
632318888-president-donald-trump-speaks-at-the-cia-headquarters_1.jpg.CROP.promo-xlarge2

U.S. President, Donald Trump
(Photo Credit: slate.com)

Dollar slips, shares unstable after Trump’s protectionist address

byAgency Report
January 23, 2017
2 min read

The dollar slid broadly on Monday after U.S. President Donald Trump struck a protectionist tone in his inauguration speech, prompting developed and emerging market currencies to gain.

The drops and gains were due to the Trump administration’s intention, on its first day in office, to withdraw from the Trans-Pacific Partnership, TPP.

In his inaugural address, Mr. Trump pledged to end what he called an “American carnage” of rusted factories, and vowed to put “America first”.

He laid out two simple rules – buy American and hire American.

Mr. Trump also said on Sunday that he planned talks with leaders of Canada and Mexico to begin renegotiating the North American Free Trade Agreement (NAFTA).

Members of the TPP are U.S., Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru.

The pact aims to deepen economic ties between these nations, slashing tariffs and fostering trade to boost growth.

The dollar fell as much as 1.2 per cent against the yen to 113.26 yen, edging towards its seven-week low of 112.57 yen touched on Wednesday.

U.S. stock futures dipped 0.3 per cent, erasing gains made on Friday

The 10-year U.S. treasuries’ yield fell to 2.435 per cent, after having risen briefly on Friday to 2.513 per cent – its highest since January 3.

Japan’s Nikkei dropped 1.1 per cent while shares in Australia dropped 0.8 per cent.

The euro gained 0.5 per cent to $1.0754, its highest level since December 8.

Emerging market currencies gained, with South African rand gaining 0.8 per cent.

The Mexican peso, which has weakened the most on Trump’s protectionist and anti-immigration stance, rose 0.8 per cent to a two-week high of 21.415 per dollar..

Gold hit a two-month high of $1,219.3 per ounce.

European shares were expected to fall, too, with spread-betters looking to a drop of 0.4 per cent in Britain’s FTSE and 0.3 per cent in Germany’s DAX.

“The market is getting nervous about the possibility that the world’s trade might shrink,” said Koichi Yoshikawa, Executive Director of Financial Markets at Standard Chartered Bank in Tokyo.

“Many of his policies, including tax cuts and infrastructure spending, need approval from the senate and that (may not be) easy.

“The markets that had been led by expectations on his policy since the election are now the dragged down by the reality.”

The dollar had soared late last year on expectations that Trump’s pledges to cut taxes and hike infrastructure spending would boost the U.S. economy, spurring inflation and higher interest rates.

But optimism is starting to fade as details of his tax policies remained sketchy. It is not clear if the Congress will agree to any plan that could drastically increase budget deficits.

(Reuters/NAN)

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket



Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: Call Willie - +2348098788999






PT Mag Campaign AD

Previous Post

Big Brother Naija re-launched with 12 contestants

Next Post

Gunmen attack police station, kill officer, cart away arms

Agency Report

Agency Report

More News

Itee

#Under30entrepreneursinNigeria: How Teerasi Empire was birthed – Itee

June 21, 2022
Toluwaleye Odunsi, Creative Director at Folabomi House of Fashion

#Under30entrepreneursinNigeria: How Folabomi House of Fashion came to be – Toluwaleye Odunsi

June 7, 2022
Elon Musk

Elon Musk appointed to Twitter board after acquiring 9.2% stake

April 5, 2022
Why we’re selling Mobil Nigeria to Seplat — ExxonMobil

Why we’re selling Mobil Nigeria to Seplat — ExxonMobil

February 26, 2022
Executives of System Specs in a group photograph with Ernest Ndukwe

Fintech firm SystemSpecs appoints former NCC boss as chairman

February 24, 2022
Oil barrels used to illustrate story [Photo Credit: Independent.co.uk]

Oil hits $100 as Russia launches attack on Ukraine

February 24, 2022
Next Post
Nigeria Police Officers

Gunmen attack police station, kill officer, cart away arms

Johnson Suleman, Founder Omega Fire Ministries

Popular Nigerian preacher tells church members to kill Fulani herdsmen

Leave Comment

Search

AUN-PT Ad




Access Bank Ad







Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,907,847 other subscribers.

Advertisement




netherland biz school Advert



ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • #PandoraPapers
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Investigations
    • Investigations
    • Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • #EndSARS Dashboard
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • AUN-PT Data Hub
  • Opinion
  • The Membership Club
  • DONATE
  • About Us
  • Advert Rates
  • PT Hausa
  • Dubawa NG
  • Careers
  • Contact Us
  • Digital Store

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.