Not a lot of change
The speech from Pres. Trump at the Economic Club of NY is over. Overall, there was a lot of review of the economic, regulatory, fiscal policy with a sprinkling of Fed and Democrat bashing. The Q&A session was a continuation of the speech. I am not sure he answered the questions, but he had the microphone.
Below are the before and afters in the major markets.
Stocks at the start of the speech:
- S&P +10.3 points
- Nasdaq +39.375 points
- Dow, +47 points
Stocks at the end of speech and Q&A
- S&P index, +10.17 points, -0.13 points
- NASDAQ index, +38.66 points, -0.71 points
- Dow, +38.14 points, -9 points
Forex rates at the start of the speech
- EURUSD, 1.1016
- GBPUSD, 1.2863
- USDJPY 109.11
- USDCHF 0.9931
- USDCAD, 1.3232
- AUDUSD 0.6847
- NZDUSD 0.6337
forex rates at the end of the speech and Q&A:
- EURUSD 1.1011, -5 pips
- GBPUSD 1.2859 -4 pips
- USDJPY 109.08, -3 pips
- USDCHF 0.9926, -5 pips
- AUDUSD 0.6843, -4 pips
- NZDUSD 0.6332. -5 pips
In other markets at the start of the speech:
- spot gold $1452.38
- WTI crude oil futures $56.84
- 2 year yield 1.6643%
- 10 year yield 1.9260%
Of market levels at the end of the speech:
- Spot gold, $1452.87, +$0.49
- WTI crude oil futures $57.07, +$0.23
- 2 year yield 1.6562%. -0.8 bps
- 10 year yield 1.9242%, -0.2 bps
Overall, there was not of change from the start to finish.
