Donald at Davos – lower oil prices and interest rates please
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What did Donald Trump say at Davos about lowering oil prices and interest rates?
John is a Davos. Well, via video link anyway. President Trump has called on OPEC to lower oil prices. Surprised that they didn't do it before the election. And he wants central banks the world over to lower interest rates. At least we know what he thinks. But has it changed markets? Well, not really. But lots starter-wise today, it's data, not Davos, that counts uh with Japan's CPI and the Boj decision today. And all those global people. MIs today as well. Some numbers at last. It's Friday. It's the twenty-third of January twenty twenty-four. It's the morning call from Nab. Good morning. Well, not much movement in the US dollar, but a naught point four percent lift in the yen. The pound is up naught point three percent, the Aussie dollar is up naught point two percent, just below sixty two point nine US cents.
Bond yields are up a little, three basis points for ten year treasuries, up two in Canada, up four in France and Italy, up two in Germany. Aussie ten years yesterday. Well, they were up just one basis point to four point four seven percent now on futures, actually seven basis points higher than that. Uh the NASDAQ Stack had lost ground, but then it picked up and returned into the green at close, finishing up 0.2%, up half percent for the SP and 0.9% for the Dow. In Europe, a quarter percent rise in the Eurostocks fifty and the FTSE one hundred, three quarters of one percent for the DAX at close there. And oil down again, one point six percent off WTI, one point four percent lower for Brent, falling below seventy-eight.
Donald Trump might have had a bit to do with the
How did Trump’s call for lower oil prices impact market movements?
That this time, although it lifted a bit since he talked about oil prices needing to get lower. Now it's fallen again. Uh here's Nabs Tapas Strickland for the first time in 2025. Let's talk about those comments. Uh welcome back by the way, Tapas. Let's talk about some of those comments from Donald Trump because uh he was talking via video link uh at Davos. He wants OPEC to drop oil prices, he wants uh central banks uh the the world over to drop interest rates. He also um uh he by the way he reckons if oil prices drop he reckons uh Russia will lose out and it could finish the war. Simples. Uh and he talked about China and he talked about tariffs as well. But this this uh this talk about int uh oil is interesting, isn't it?
In that it did have a market impact just for a very short period.
Good morning Phil and happy near to you as well. Uh so the comments by Trump uh in that Davos uh press conference were really, really interesting and I think it plays towards three things. So one, uh there still is not much detail behind a lot of the things that he's saying. So first on tariffs, no real specifics on tariffs. Um rather it was like an offer for companies uh to build their product in US and get the lowest tax rate on earth. But again, no real details there. And I guess for for markets, that's really what they're really hanging out for. So the the key dates that we've been emphasizing is the first of February and the first of April. And so they're going to be the key dates in terms of tariffs coming forward.
So we're not likely to get too much new information on that. The second one is on China. Although he did make a few bellico statements on China, um, you'll have to say he didn't sound as horrible.
Will Trump’s tariff proposals increase inflation or hurt growth?
As some of his nominees that he's put forward for various positions within his administration. So for me, that's actually been a key takeaway from some of his uh speeches that he's given. And he also gave an interview with uh Fox News uh w around one PM Sydney time yesterday. And uh he said uh at the Davos Forum, he said we have to make it just fair in terms of the relationship. We don't have to make it phenomenal. Um, we have to make it a fair relationship. Right now it's not a fair relationship between the US and China. So I think that's just a kind of tweaking of words there a little bit.
It sounds a lot more piecemeal, doesn't it, than the bravado that we had earlier.
Yes, yes. But again, um there's still a lot of uncertainty in in the air here.
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Chapters
8 chapters
1
What did Donald Trump say at Davos about lowering oil prices and interest rates?
0:01–1:27
2
How did Trump’s call for lower oil prices impact market movements?
1:27–3:01
3
Will Trump’s tariff proposals increase inflation or hurt growth?
3:01–4:58
4
Are Norway’s upcoming rate cuts comparable to the RBA’s stance?
4:58–6:58
5
Is the Bank of Japan expected to raise rates at its upcoming meeting?
6:58–9:22
6
What do the latest global PMI figures indicate about the world economy?
9:22–11:00
7
Is US manufacturing showing recovery in the newest PMI data?
11:00–13:13
8
When are the key tariff dates Trump announced for China, Canada and Mexico?
13:13–14:25