President Trump is due to complete his first 100 days in office but a recent poll on Sunday by ABC rated him the worst President since the second World War.

Donald Trump is now just 7 days away from his 100th day as President of the United States and a recent poll released on Sunday by ABC News of more than 1,000 adults has branded him with the lowest approval ratings of any president since the Second World War, at just 42%. To put this into perspective, Barack Obama, at the same point in his first term held an approval rating of 69%.  Could this signify the start of a loss in confidence for the President? What impacts could this have for USD rates?

If you have a USD requirement why not open a free account here at Foreign Currency Direct to speak with your experienced personal broker today.

The border wall and a Government shutdown

One of the key pledges of Donald Trump’s campaign, ‘the border wall’ which is estimated to cost around $22bn (£17bn) could potentially throw the Government into a shutdown later this week. Congress have stated they are not willing to allocate funds from the budget to the project, whilst Donald Trump has said he will refuse to sign the bill unless it is included. If Congress fails to send Donald Trump a funding bill that is approved by midnight on Friday 28th April the Government will officially run out of money and be forced to shut down. This would not be the first time a Government shutdown has occurred, the last was in 2013 under Barack Obama over the funding of Obamacare lasting a total of 18 days.

Cable breaks 1.30

Economic data to drive markets this week

This morning at 12:30pm we have the Chicago Fed National Activity Index released for March, as a weighted average of 85 existing monthly indicators it has become an ever more central measure of economic activity and inflationary pressure. A value above zero indicates growth above trend, and with the last release soaring by 0.36 points to 0.34 for February there is the potential for the USD to rally against its counterparts if the release continues to impress. It could also add further weight to the expectation of a further FED interest rate hike at their next meeting on 3rd May. If you have a USD selling requirement it may be wise to contact your personal broker here at Foreign Currency Direct in advance of the release to ensure you are in a position to act swiftly on any short term spikes that may occur.

Later this week we see Initial and Continuing Jobless Claims alongside Durable Goods Orders for March on Thursday at 12:30pm. On Friday Gross Domestic Product and Personal Consumption Expenditures for Q1 are released at 12:30pm.

By detailing your US Dollar requirement with a member of our team, we can act as the eyes and ears on the market for you and alert you to any potential changes that may arise. Registering your interest is free, and a perfectly timed transfer could save you thousands so call us today on 01494 725 353.


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