Bitcoin Surges on Inauguration Day as Markets Brace for Trump's Bold Moves

20.01.2025

Today's expected range for the Canadian Dollar against the major currencies:

US Dollar 1.4360-1.4570

Euro 1.4820-1.5020

Sterling 1.7550-1.7780

WTI Oil (opening level) $77.32

The CAD is opening at 1.4467 ( 0.6912 )

Here we are at inauguration day. Trump becomes president at noon today!

So far the biggest movement has been the price of Bitcoin go from $102,000 to $109,000 in about 20 minutes this morning. There is obviously a big push to see the virtual currency become news worthy on this day, to link its strength to that of the new administration. I truly wonder who is behind this PUSH, but that is way above my pay grade.

Trump says he will sign near 100 executive orders as his 4-year presidency begins, with market initial focus chiefly on the specifics of the Trump administration’s tariff plans and whether they will be broad or targeted by geography or import category, whether they will start at low or high levels and whether there will be a “ratcheting” schedule of regular increases until the targeted country changes course. Other areas relevant for financial markets include the Trump administration’s plans for deregulation of the financial services and energy industries and the intended scale of deportation of illegal migrants.

· Equities: US-China optimism, tech rebound, Trump-Xi call, S&P +1%, Nasdaq +1.6%, Dow +0.8%

· Volatility: VIX 15.97, calm pre-inauguration, earnings focus, muted futures

· Digital Assets: Bitcoin posts new (intraday) all time high, $TRUMP memecoin volatility

· Currencies: USD trades nervously ahead of Trump inauguration, with a spike in short-dated options vol pointing to significant market anticipation of tariff announcements.

· Commodities: Caution takes hold following period of aggressive fund buying

· Fixed Income: US yields close on session highs Friday after a further dip.

· Macro events: Trumps inauguration, US markets closed for Martin Luther King Day

Comment (1)

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