JP Morgan on Trump’s social media activity showing diminished market-moving influence

Analysts at JP Morgan say that Trump’s social media activity has
significantly declined in market-moving influence compared to his
first term.

JPM cite his 126
posts on trade and economics, saying that only 10% of them triggered
notable currency fluctuations. JPM says this is in contrast to the 60
market-moving tweets per week during the 2018-2019 trade wars.

JPM add that while
Trump’s overall market impact has faded, his tariff-related tweets
remain potentially market-moving. For example, his announcement of 25%
tariffs on Mexico and Canada led to a 2% drop in the peso and a 1%
decline in the Canadian dollar in late January. The Chinese yuan
reacted to trade threats, falling after Trump’s Fentanyl-related
tariff comments but recovering following positive remarks about a
conversation with President Xi.

This article was written by Eamonn Sheridan at www.forexlive.com.