Courtesy of Mish.
Saxo Bank CIO and chief economist Steen Jakobsen sees event risks on the near horizon in terms of Trump policies and the US dollar.
Specifically, Jakobsen has a focus on a “Weak Dollar Policy” that he expects Trump to pursue.
Ready, Steady, Go by Steen Jakobsen
We stand in front of major event risks in the Dollar direction with three announcements:
- February 28th: Trump to address a joint session of Congress
- March 14-15th: FOMC meeting
- March 17-18th: G-20 finance ministers & central banks meet in Baden, Germany
As background G-20 consider the G-20 Hamburg Summit Priority Agenda
The fact Trump is struggling to keep the “business” momentum going and is falling back to being Trump “the candidate” shows the limited range and output from the Trump administration.
By this time in February, all prior Presidents had their agenda and economic policy announced. Trump don’t seem to have a direction and strategy except for the “Tweeter-attack mode”
This means he is likely to refocus his effort leading into his address to a joint session of Congress. There will high expectations for a tax plan, repealing Affordable Care Act, Obamacare, and his trade policy which could include some comments on “the unfair FX policy by China & Germany alike”.
