President Trump spent his 3rd working day in charge planning the construction for building a wall between the United States and Mexico. However, in a twist he suggested that the US would foot the bill rather than make the Mexicans pay for the project. Whilst many possibly aren’t surprised that the Mexicans aren’t going to pay, there has been little wall talk of late before today but it’s safe to say the plans not gone.
Dakota pipeline executive order
Trump yesterday singed an executive order to re-open the Dakota and Keystone XL pipeline that has been the centre of controversy over recent years. The pipeline is planned to cross sacred Native American burial grounds and has been fiercely protested against by the local residents. Should the pipeline construction go ahead it would add over 10,000 jobs, however there is questions over the motives behind the pipeline. One of Trump’s donations for the election is the head of the company building the pipeline. The project would also increase profits for the oil companies as the current method of putting barrels on trains isn’t overly efficient.
Dow Jones over 20,000
The Dow Jones moved above 20000 for the first time as business stocks grew of the back of Trump economic policies to help businesses grow. Whilst there has been boosts for stocks and shares the US Dollar has begun to fall. There had been major gains after the Fed Interest Rate hike however talk of further hikes are still on the cards. If there was to be another interest rate jump I believe the US Dollar would gain back much of the lost ground. Whilst Trump is making major changes though the USD is likely to be unsettled however as things move on I believe the Dollar will start to settle.