US Dollar Index retreats 1% with Trump postponing tariffs on his first day in office

US Dollar Index retreats 1% with Trump postponing tariffs on his first day in office


  • The US Dollar slides 1% in the US Dollar Index, measured against six major currencies. 
  • The WSJ issues a piece that first a task force needs to be formed on tariffs. 
  • The US Dollar Index (DXY) snaps 109.00 and heads towards 108.00

The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is sinking 1% just hours ahead of President-elect Donald Trump’s inauguration as the 47th President of the United States (US). Several asset classes in the US will remain closed, such as the Wall Street trading floor and US bond trading, in observance of Martin Luther King’s Day. The first seismic shock in the DXY comes after headlines emerged form the Wall Street Journal that tariffs are not a part of the executive orders that President Donald Trump will issue on his first day in office, and need to be discussed further before being implemented. 

All eyes will be on the aftermath of the inauguration, where President-elect Donald Trump has already confirmed in a rally on Sunday that a whole battery of new measures and executive orders will be issued. The main ones are, of course, more tariffs, mass deportation starting in Chicago, and issuing state of emergencies for energy and border security, Bloomberg reported. By issuing those last two, the upcoming President Trump can give the green light for massive drilling and mass deporting illegal immigrants without having to pass through Congress and the House of Representatives. 

Daily digest market movers: Watch out for the boomerang

  • The Wall Street Journal issues a headline that confirms the Trump administration to form a task group first to discuss proper impacts from tariffs on China, Canada and Mexico before considering to issue them. 
  • At 17:00 GMT, the Presidential Inauguration will take place, with Donald Trump being sworn in as the 47th President of the United States.
  • Due to Martin Luther King’s Day, several trading floors in the US will remain closed throughout the day. 
  • Equities are very happy with the softer US Dollar. All European equities and US futures are off to a good start for this week. 
  • The CME FedWatch tool projects a 55.6% chance that interest rates will remain unchanged at current levels in the May meeting, suggesting a rate cut in June. Expectations are that the Federal Reserve (Fed) will remain data-dependent with uncertainties that could influence inflation during President-elect Donald Trump’s term. 
  • The US 10-year yield is trading around 4.627% and will remain at that level this Monday, as bond trading in the US is closed due to the Martin Luther King’s bank holiday. 

US Dollar Index Technical Analysis: Look at the bigger picture

The US Dollar Index (DXY) sees a split division between bears and bulls. The new Trump administration is set to unleash a large number of executive orders, making it hard for markets to assess the impact. With several topics being addressed and communicated in advance, it looks like markets have already priced in a fair bit of inflationary pressure from Trumponomics. The question now will be if the markets are correct and if the DXY index will ease further from current levels on the back of an overestimation of the actual impact of the measures being imposed. 

On the upside, the 110.00 psychological level remains the key resistance to beat. Further up, the next big upside level to hit before advancing any further remains at 110.79 (September 7, 2022, high). Once beyond there, it is quite a stretch to 113.91, a double top from October 2022.

On the downside, the DXY is trading alongside the ascending trend line coming from December 2023, which currently comes in around 109.10 as nearby support. In case of more downside, the next support is 107.35 (October 3, 2023, high). Further down, the  55-day Simple Moving Average (SMA) at 107.29 should catch any falling knives. 

US Dollar Index: Daily Chart

US Dollar Index: Daily Chart

 



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Trump to issue 10 executive orders on immigration upon taking office

Trump to issue 10 executive orders on immigration upon taking office


President-elect Donald Trump plans to issue 10 executive orders related to immigration on Monday, including declaring a national emergency at the border, an incoming White House official said.

The executive orders will follow Trump’s promises on the campaign trail to issue mass deportations immediately after taking office.

Declaring a national emergency will allow the Department of Defense to deploy the military and the national guard to the border. Officials declined to elaborate on how many troops would be sent or the parameters of their actions, saying that it would be up to the Department of Defense to make those determinations.

The Trump administration also said it would end birthright citizenship, the right of children born in the U.S. to claim citizenship regardless of their parents’ immigration status.

The official said Trump intends to end the practice referred to as “catch and release.” Trump vowed in his first term to end the practice, but migrants were still released after crossing the border because of limits in ICE detention space.

The Trump administration will also reinstate the Remain in Mexico policy, which allowed Trump in his first term to keep migrants of all nationalities from crossing into the United States from Mexico until they had an appointment for asylum. The official did not detail whether that country had agreed to any terms on it.

The official also said they would continue building the border wall and suspend refugee resettlement for at least four months. 

The administration also intends to target drug cartels and what it called migrant gangs, referring specifically to MS-13 and Tren de Aragua. They intend to designate them as Foreign Terrorist Organizations, according to the official, which would make it illegal to anyone to provide aid or collaborate with the groups.

This is a developing story, please check back for updates.



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‘One of Them Days’ beats ‘Mufasa’ for top spot at weekend box office

‘One of Them Days’ beats ‘Mufasa’ for top spot at weekend box office


One of Them Days, your day has come.

The Keke Palmer/SZA buddy comedy narrowly prevailed over the Disney live-action prequel Mufasa: The Lion King at the Martin Luther King Jr. weekend box office. The Sony Pictures film, produced by Issa Rae and written by Syreeta Singleton (Rap Sh!t), opened to $11.6 million and is expected to reach $14 million by the end of the four-day weekend. Barry Jenkins‘ big pivot to studio franchise filmmaking came in just behind, at $11.5 million, anticipating an even $12 million for the full holiday.

While the triumph of an original buddy comedy starring, written, and produced by Black women is certainly something to celebrate, the overall picture at the box office this weekend is grim. MLK weekend is traditionally seen as the official commencement of the moviegoing year, with totals expected around $150 million. 2025’s total are estimated around $77 million.

Not even Wolf Man, Blumhouse and Universal’s next reimagining of a classic-era monster after 2020’s Invisible Man, could scare up a decent weekend return. The Leigh Whannell-directed shocker starring Christopher Abbott and Julia Garner came in at third with only $10.5 million. Compare that to the $28 million that Invisible Man earned during its premiere weekend.

Sonic the Hedgehog 3, in its fifth week in theaters like Mufasa, rounds out the top 5. The sneakered speedster earned $8.6 million, making for a cumulative domestic total of $216.5 million. While Mufasa may have earned the advantage this weekend, cumulatively, it falls behind Sonic with a $206 million domestic total. In the fifth spot is Den of Thieves 2: Pantera, which adds $6.6 million this weekend for a $26 million domestic cumulative gross.

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The rest of the top 10 are familiar faces, with the newest titles already in their fourth week of release. In the sixth and seventh spots are Moana 2 and Nosferatu, in their eighth and fourth weeks of release with $6 million and $4.3 million weekend grosses, respectively. Following that are the Bob Dylan biopic A Complete Unknown in eighth, with $3.8 million; the Broadway adaptation Wicked, with $3.5 (not bad for a film in its ninth week of release); A24’s erotic drama Babygirl, with $2 million (not bad for a provocative indie on half the screens as the rest of its competition).

Christopher Abbott as Blake in ‘Wolf Man’.

Universal Pictures


This weekend’s global and international box office reports tell very different stories, though they aren’t much sunnier.

The films with the top domestic cumulatives make up the top two spots on this weekend’s global and international leaderboards. Mufasa maintains its lead by a wide margin by grossing $20.3 million internationally and $31.8 million globally, making for a $382 million international and $588 million cumulative global gross. Sonic, meanwhile, earned $15.2 million internationally and $23.8 million globally, bringing its cumulative totals to $203.5 million internationally and $420 million globally.

One of Them Days was able to hold its ground on the international and global charts, but fell short of the top 5 with its $11.6 million gross. That’s extremely impressive given it only played in a single territory (compare to Nosferatu in 66 different markets). It was edged out of the top spots by Wolf Man at No. 3, with $4.8 million internationally and $15.4 million globally; Moana 2 ($8 million international, $14 million global); and Nosferatu ($7.6 million International, $12 million global).

There’s no question as to the current world champ. Moana 2 currently boasts $567 million at the international box office, and globally, the sequel to Disney’s Polynesian island-hopping adventure crossed the billion-dollar mark this weekend, with $1.01 billion.

Dig into the weekend’s premieres at the global and international box offices that didn’t make the top 10, and some interesting stories arise. Paddington in Peru, which doesn’t open Stateside until Valentine’s Day, earned $6.2 million in 34 markets, 23 of them new. Its international box office currently sits at $72.8 million, making for a stronger global opening than 2017’s Paddington 2.

A Complete Unknown opened at No. 11 in the U.K. this weekend, bringing its global cumulative total to $60.5 million, quite strong for a musical biopic. Finally, Sean Baker’s Cannes winner and Oscar contender Anora opened across Latin America this weekend, grossing $0.6 million, bringing its cumulative to $11.1 million. It may not sound like much, but it surpasses comparable indies like Licorice Pizza, The Square, and even Baker’s sophomore feature, The Florida Project.

No major releases threaten the ongoing dominance of Mufasa and Sonic 3 next weekend. But smaller-scale films like One of Them Days have reason to fear the competition of titles like Steven Soderbergh’s haunted house POV film Presence, the espionage thriller Inheritance, and Mel Gibson’s Mark Wahlberg-starrer Flight Risk.



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