Dollar slips after Trump's protectionist address, Asia shares resilient

[milestogo]

Source: Reuters

The dollar slipped broadly on Monday after U.S. President Donald Trump struck a protectionist tone in his inauguration speech, offsetting optimism that he will follow through on promises of tax cuts and other stimulus.

Japan's Nikkei dropped 1.1 percent while shares in Australia dropped 0.7 percent after the Trump administration, on its first day in office, declared its intention to withdraw from the Trans-Pacific Partnership (TPP), a 12-nation trade pact that Japan and Australia also have signed up for.

Other Asian shares were resilient, however, in part due to a relief that there was no negative surprises, with Trump refraining from labelling China as a currency manipulator for now, an accusation he made while campaigning. Hong Kong shares rose 0.6 percent and Taiwan shares rose 0.8 percent, helping to boost MSCI's broadest index of Asia-Pacific shares outside Japan 0.4 percent.

U.S. stock futures dipped 0.2 percent, erasing gains made on Friday. In his inaugural address, Trump pledged to end what he called an "American carnage" of rusted factories and vowed to put "America first", laying out two simple rules - buy American and hire American.

Read more: http://www.reuters.com/article/us-global-markets-idUSKBN157023?il=0

[ffr]

1. He can take credit for that too!

Sorry though, Joe & Jane Hoodwink, no jobs for you yet.

[tenorly]

2. If the "markets" don't realize by now that it's all empty rhetoric, they don't know Trump.

He'll keep the knuckle-draggers chanting "America first" for years, while his actual policies do everything imaginable to make outsourcing easier.

[calguy]

3. The big boys realize it

The sell off began last week. Professional traders are trying to liquidate their shares slowly before retail traders start catching on and join the selling. When that happens more and more professional traders will be forced to sell large positions faster and we could see a big market collapse and the beginning of the new bear market.

[tenorly]

4. Scary.

I guess they remember what happened the last time we had a Republican regime.

[Yavin4]

7. Yep. The move is to stockpile cash and wait for the inevitable collapse

Then, buy in when the market is at rock bottom.

[calguy]

8. Short selling is the better option

I made a lot of money shorting the market during W's last year in office. Should work good for the trump dump too.

[C Moon]

5. what a surprise

[LittleGirl]

6. I've got some gold to sell

so when the economy takes a crap, I'll cash in.

Seriously though, wall street is ready to crash and we're all going to feel that pain.

[DK504]

10. That $1200.00 an ounce gold might buy you some bread.

Save it, you'll need it.

[Achilleaze]

9. Trump is such a loser

sad