Global macro overview for 22/11/2016:
US president-elect Donald Trump has outlined his first 100-day plan. In a video message, Trump announced intentions to quit TPP on the first day in office, just as he promised during the presidential election campaign. As we remember, he described the TPP deal as bad for America as it hampers the process of regaining control over the US economy. Moreover, in the same message he pledged to reduce “job-killing restrictions” on coal production and stop visa abuses. In conclusion, it looks like Donald Trump is trying to be fair with the American people who voted for him and will try to meet his promises to show that his presidency will not defeat their expectations. Whether it will turn out to be good for the US economy in the future, time will tell.
Let’s now take a look at the US Dollar index technical picture on the daily time frame. The market is trading at the new local highs, above the old swing high at the level of 100.48. The bulls are in full control over this market and the next resistance is seen at the level of 101.49.
The material has been provided by InstaForex Company – www.instaforex.com
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