Dollar Slides, Oil Prices Steady on Trump's Trade, Energy Policies
The U.S. dollar extended its decline, while crude prices pared losses following President Donald Trump's Monday address outlining plans to impose tariffs, tax other countries, and declare a national energy emergency.
Expert Commentary:
* Jamie Cox, Managing Partner, Harris Financial Group: "Energy prices will significantly decrease, benefiting consumers and improving inflation data over the next 6-7 months."
* Nigel Green, CEO, deVere Group: "The energy sector will immediately benefit from the policy shift. Companies involved in exploration, extraction, and infrastructure will gain from reduced regulatory barriers and increased investment in domestic production, driving up shares of energy giants and mid-cap firms."
* Gabriela Siller Pagaza, Director of Economic Analysis, Grupo Financiero Base: "The Mexican peso appreciated by 0.22% as Trump's speech did not announce any tariffs."
* Marc Chandler, Chief Market Strategist, Bannockburn Global Forex: "Foreign currencies are rallying in relief. Although Trump did not specify, it's clear he's considering tariffs on auto imports. The impact timeline remains uncertain."
* Chandler: "Raising $2 trillion through tariffs is unrealistic. The U.S. imports only $1 trillion in goods."