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February, 5 - USD had no reaction to Trump's Address. What can move the greenback?

Trump’s state of the Union Address. This was going to be the talk of the town today. Trump’s speeches in general are always picked apart and ridiculed due to President’s unbeatable habit to lie. And today we were waiting for Trump to say something that was going to influence USD price and either drive it higher or drop it very hard. But, weirdly, none of that happened.

 

usd 5.02.2020

 

Even though Trump said “I am thrilled to report to you tonight that our economy is the best it has ever been,” there was no reaction for USD. In general, economic growth and development was a key point in the Address today with Republican warmly welcoming the President and chanting ‘’four more years’ when he took the stage.

 

Surely, this might be the very reason of USD staying out for the time being – political uncertainty. It is clear now that Trump is not going to be impeached by Republican-held Congress. He is free to put his candidacy up for re-election this November and everyone understands that. But, as we have already said, he is not the bet President American would wish for. And a lot of people think that he should be removed from the office as soon as possible. All of this creates a kind of political uncertainty that scares traders away from USD even with growth as strong as claimed.

 

So, will USD jump as soon as European trading sessions open? That we will see shortly.

 

Monitor the situation with our trading signals.

 

 

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