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Donald Trump is about to become the President of the USA and the world is watching to see his first actions in office, perhaps some executive orders. There is high uncertainty regarding his policies in every field: trade relations with China and Mexico, the bromance with Putin and Russie, his dismissive comments about Nato, healthcare policy in the US and fiscal stimulus, among other topics.

Markets  are watching as well, but also move in the meantime. The elections in November triggered a major dollar rally on hopes for fiscal stimulus that would lead to higher inflation and consequent rate hikes. The rally was reinforced by the FED in December. January 2017 was already a bit different with some skepticism about the FED as well as worries about Trump, as seen in his angry press conference.

Inauguration Day, January 20th, sees a small rise in the value of the greenback. His speech will take place  as European markets close and as liquidity squeezes ahead of the weekend. The full reaction is due on Monday.

  • EUR/USD slips back down to 1.0637.  It is still above the lows that Draghi’s dovishness triggered.
  • GBP/USD trades under 1.23, also suffering the weak UK retail sales, amid a very turbulent week.
  • USD/JPY is trading above 115. Volatility is quite high in dollar/yen.
  • USD/CAD trades around 1.3350 after the BOC said its word.
  • AUD/USD is around 0.7525, after mixed Chinese data.
  • NZD/USD is trading at 0.7145.

More:  Trump inauguration: All bets are off [Video]