ADDX GO Market Morning Wrap - 21st Jan

Stock Market

Futures on the three major indexes were collectively higher on Jan. 20 as of the U.S. stock market close. Asian stocks were broadly higher on growing market optimism that U.S. President-elect Donald Trump could be lenient with China after his inauguration.Friday's rise in U.S. stocks provided a positive signal for investors in the region.

Key Events

At noon on the 20th Eastern Time, Donald Trump was sworn in as the 47th President of the United States in the Rotunda of the U.S. Capitol in Washington. Following the inauguration, Trump delivered his inaugural speech and announced plans to sign a series of executive orders covering areas such as illegal immigration, energy extraction, tariffs, gender, and territorial issues.
Trump announced that the U.S. will withdraw from the Paris Agreement to combat climate change, repealing nearly 80 policies of the Biden administration.
Trump has said he wants to lower prices, fill the U.S. Strategic Petroleum Reserve again, and export U.S. energy around the globe.
Tiktok resumes service in the U.S., while Platform X announces the launch of its short-form video streaming service.In addition, U.S. President-elect Donald Trump said in an interview on the same day that he would "most likely" grant TikTok a 90-day stay on the ban after his inauguration.
European auto manufacturing stocks generally rose on news that Trump will end tax breaks for electric cars.

Forex

On January 20, the U.S. dollar index fell more than 1.2% to close at 108.082, while non-U.S. currencies were generally higher.The euro against the dollar, the pound against the dollar rose more than 1% during the day.

Key Events

Officials confirmed that the Trump administration will not impose aggressive tariffs on U.S. trading partners as soon as it takes office, but will instead order an evaluation of U.S. trade policy.
Analysts say the dollar has been heavily overbought for weeks and now a round of corrections is coming.
According to the CME "Fed Watch": the probability of the Federal Reserve to keep interest rates unchanged in January is 99.5%, the probability of a 25 basis point cut in interest rates is 0.5%.

Cryptocurrency

Bitcoin returns to $100k on January 20. Jan, surges to over $109k at intraday highs.

Key Events

On his return to the White House, Trump and Mrs. Trump have launched their personal MeMe coins, TrumpCoin and MelaniaCoin.The move not only sent shockwaves through the US political scene, but also made huge waves in the cryptocurrency space.
Rather than wait to see if Donald Trump fulfills his promise to create a national "strategic" Bitcoin reserve, states in the United States are moving ahead on their own.Currently, eight states have introduced bills to establish cryptocurrency reserves.Making the U.S. the "cryptocurrency capital of the world" was part of a series of promises Trump made during his presidential campaign.

Market Events and Most Anticipated Earnings Releases

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