Tag: Donald Trump

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As the USD continues to weaken, what does Trump get out of mediating a Russia-Ukraine peace deal?

As I write, the EUR/USD is at 1.17139. The EUR/USD has been increasing since 4:00 am when it read 1.16823. All eyes are on Anchorage, Alaska as U.S. president Donald Trump is set to meet Russian Federation president Vladimir Putin to discuss a resolution of Russia’s war with Ukraine. Ukrainian president Volodymyr Zelenskyy has not … Continue reading As the USD continues to weaken, what does Trump get out of mediating a Russia-Ukraine peace deal?

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Today’s foreign exchange action further confirms that Congress long ago abdicated its duty to regulate the value of money.

The EUR/USD closed at 1.16624 at 3:00 pm EDT. It was trading around 1.15746 this morning at about 4:00 am. Because there were no major economic data releases today, traders had more time to lament the downward revision of 258,000 jobs in May and June, the potential pullback in consumer spending as a result of … Continue reading Today’s foreign exchange action further confirms that Congress long ago abdicated its duty to regulate the value of money.

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Time to discount effects of Trump’s call for a Powell removal on EUR/USD

From my trading desk: A little dollar strengthening from 5:00 am to 9:00 am, then … From 5:00 am to 9:00 am, I saw dollar strengthening based on the decreasing price of the EUR/USD as reported on the NADEX. The price went from 1.15424 to 1.15354. The U.S. Bureau of Economic Analysis released its balance … Continue reading Time to discount effects of Trump’s call for a Powell removal on EUR/USD

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Trump’s call on Powell to lower benchmark rates has no impact on direction of foreign exchange rates.

Reuters today posted yet another call by U.S. President Donald Trump for Jerome Powell, chairman of the Federal Open Market Committee to lower the target range for the federal funds rate. The target range for the federal funds rate is currently between 4.25% and 4.50%. The federal funds rate is a weighted average of the … Continue reading Trump’s call on Powell to lower benchmark rates has no impact on direction of foreign exchange rates.

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As Trump meets with von der Leyen, is he really looking for a weakened USD?

According to a news report in Reuters, European Commission President Ursula von der Leyen is set to meet U.S. President Donald Trump in efforts to hammer out a deal on tariffs and trade. President Trump has threatened a tariff of 30% on items imported into the United States from the European Union and if the … Continue reading As Trump meets with von der Leyen, is he really looking for a weakened USD?

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Legal risks: Trump is getting the weakened dollar he wants. Does he have cause for removing Powell?

12 USC Sec. 242 says the following about the eligibility, selection, and removal of a member of the Board of Governors of the Federal Reserve. Hold tight. It’s a mouthful: “The members of the Board shall be ineligible during the time they are in office and for two years thereafter to hold any office, position, … Continue reading Legal risks: Trump is getting the weakened dollar he wants. Does he have cause for removing Powell?

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Not much moved me about Chairman Powell’s testimony this week …

Jerome Powell, chairman of the Board of Governors of the Federal Reserve System wrapped up his semi-annual visit to Capitol Hill basically saying all is well with the Fed’s implementation of monetary policy. Chairman Powell assured both the House yesterday and the Senate today that the labor market was at or near maximum employment although … Continue reading Not much moved me about Chairman Powell’s testimony this week …