Nov 11, 2024 (MENAFN via COMTEX) --
(MENAFN) Commodity prices showed mixed movement last week following the election of Republican Donald Trump as the 47th president of the United States on November 6.
The demand for the US dollar increased, and it is expected that Trump's economic policies will help slow the decline in inflation in the near future.
Overall, asset prices faced pressure as the US Dollar Index rose following the presidential election results.
Experts stated that the global trade could be impacted by Trump, particularly because of his stress on taxes, also pointed out that this condition is among the factors that rise the pressure on asset prices as well as the commodity market.
They stated that the impact of Trump's laws could fuel inflationary pressures and the Fed might continue its ratio cut cycle slower than estimated.
The fed decreased its interest ratio by 25 units throughout its November summit to the average of 4.50 percent-4.75 percent--the second ratio cut this year came within estimations.
The Federal Reserve noted that recent indicators suggest strong and sustained economic activity in the US, with inflation remaining high but gradually moving toward the 2% percent target. Fed Chair Jerome Powell emphasized that the outcome of the US presidential elections will not influence policy decisions in the short term.
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