It appears as though the supposed leader of the free world, President Trump, takes New Years’ Resolutions a little too seriously, frantically packing his proposed reforms into the dying days of 2018. Cast your mind back to before the Christmas period. What did we see coming from the White House?
Virtually out of the blue, the President proclaimed the defeat of ISIS in Syria on 19th December, inviting the criticism of many of his peers and the media. Claiming that Turkey, an ally of NATO, can finish the job alone, Trump announced the withdrawal of troops from the region. The criticism of the “endless” war in Syria was a tactic of the Republican candidate during his Presidential campaign, one that the declaration below demonstrates he was hell bent on finishing.
But this wasn’t the only resolution that the President was keen to defend before the year was out. Inviting partial government shutdown, Trump battled with lawmakers in Washington to provide immediate funds to build the wall between the United States of America and Mexico. The stalemate continues despite widespread criticism, with the White House inviting representatives on both sides to come and resolve their differences.
Cancelling his holiday and taking to Twitter on Christmas Eve, the real Donald Trump continue to implore politicians to approve his plans. More importantly, if Trump’s newfound conviction towards fulfilling previously empty promises continues what could 2019 hold?
The attack on Jay Powell’s Federal Reserve in recent weeks and months complaining about unnecessarily tight monetary policy could develop, presenting a challenge to the Dollar’s present strength, perhaps to the relief of struggling US equity markets. Today has seen the Dollar gain strength as markets seek security in both its treasuries, the Yen and German Bunds in particular. The coming days and weeks are likely to be pivotal in understanding the President’s commitment to his claims. Stay Tuned!
Discussion and Analysis by Charles Porter
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – A weaker Dollar: Trump vs. Powell
Charles Porter
Thu 26 Jun 2025
A weaker Dollar: Trump vs. Powell The Dollar continued to lose ground yesterday as the truce between Israel and Iran appeared to continue to hold. There has been a noticeable return to focus upon macro and monetary influences in major currency pairs. Yesterday, Fed Chair Jay Powell provided his semi-annual monetary policy report before the […]
Daily Brief – Big Girls Don’t Cry
Charles Porter
Thu 3 Jul 2025
Big Girls Don’t Cry A bond market tantrum and one of the sharpest one day sell offs in Sterling for several years appear to have been catalysed by the Chancellor’s appearance in PMQs yesterday. First: the back story. This Labour government has faced some embarrassment in recent weeks trying to get its welfare bill through […]
Daily Brief – Next level
Charles Porter
Tue 1 Jul 2025
Next level EURUSD has managed a relatively smooth ascent to its current levels, around 1.18. That is despite significant resistance levels, most notably around 1.17. A large collection of option strike prices gathered around this key level and the price history of the pair shows us its significance. Sustained closes above this level since last […]
