Business / Your Money
Do political leaders influence their currency price?
10 Aug 2018 at 11:38hrs | Views
- New interactive guide explores forex market reaction when key world leaders are in the news
- Donald Trump, Theresa May, Jean-Claude Juncker, Malcolm Turnbull, Justin Trudeau and Shinzo Abe under the spotlight
- 59 key dates for 2017/18
- Includes the ‘trade war’, Brexit, snap elections, North Korea
What impact do politicians have when they say or do something significant? That’s the question posed in a new interactive project released by forex market experts DailyFX.
The guide looks at 59 key dates in 2017/18 for US President Donald Trump, UK Prime Minister Theresa May, Japanese Prime Minister Shinzo Abe, Canadian Prime Minister Justin Trudeau, Australian Prime Minister Malcolm Turnbull and the President of the European Commission Jean-Claude Juncker.
The guide demonstrates:
- A look back at high profile news stories for each world leader
- Five currency charts for each date to show what happened at the time of the story
- A graph to show the Google search interest in the politician around the story.
It shows how some major stories have the power to move the forex markets – for good or bad – and others attract big interest but do little to change the picture.
Covering high profile events such as the Trump Presidency, North Korea, Brexit, the Australian dual citizenship saga and snap elections in the UK and Japan, it shows:
- The Pound plummeted on June 9 after Theresa May’s snap election call backfired and she lost her Parliamentary majority
- The Dollar fell – especially against the Euro – on March 22 after Donald Trump announced $60 billion of tariffs on Chinese imports
- The Australian Dollar grew on March 10 after Malcolm Turnbull secured an exeption on tariffs from Donald Trump.
- The Yen’s price rose on October 22 when Shinzo Abe retained two-thirds majorities in both houses of parliament in a snap election.
Explore the full guide for yourself to see which leaders have the most impact and which events matter most for the forex market.
Source - Agencies