President Donald Trump sounds angry in his speech, talking about America First. His speech is full with nationalism. He talks about “buy America, hire America”. At least he also talks about building infrastructure, an important part that was missing from his recent press conference.
His speech is full of patriotism and lashes against the establishment, saying that empty talk is over. We will make America great again. He promised not to ignore the public again.
Hailing protectionism, he gave the shivers to markets.
USD/JPY is falling on safe haven flows while USD/MXN is rising as Trump mentions bringing jobs back to America.
Here is an excerpt from his speech:
Protection will lead to great prosperity and strength. I will fight for you with every breath in my body and I will never ever let you down. America will start winning again, winning like never before. We will bring back our jobs. We will bring back our borders. We will bring back our wealth. And we will bring back our dreams
At the end of the speech, Trump provided more unity by saying
“Whether a child is born in the urban sprawl of Detroit or the windswept plains of Nebraska, they look up at the same night sky… and they are infused with the same breath of life by the almighty creator.”
Here is the USD/MXN chart. The pair dropped ahead of the ceremony, and jumped afterward.
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