Trump reiterates call for Fed to lower rates, laments 'strong US dollar'
Trump continues his tirade against the FedHe tweets:
Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers. Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries. The Federal Reserve should likewise act so that countries, of which there are many, no longer take advantage of our strong dollar by further devaluing their currencies. This makes it very hard for our manufactures & farmers to fairly export their goods. Lower Rates & Loosen - Fed!
At the same time, he also announces that he is reinstating steel and aluminum tariffs against Brazil and Argentina. Not exactly positive news for global trade but it shouldn't hurt the current positive risk mood all too much today.
The more key factor for risk trades in the day ahead will be US ISM manufacturing data later.