The fall in crude oil has increased due to Donald Trump’s statement in Davos. In a day, Brett has fallen by 1.50% and slipped below $78. Trump said OPEC+ countries will bring down crude oil prices. A slight rise is being seen in Gift Nifty. There is strength in Asia also and yesterday there was a rise of about one percent in America also. The Dow is just 500 points away from a record high while the S&P 500 index closed above 6100.
Donald Trump spoke at WEF
The corporate tax could be reduced to 15%. To reduce taxes, it is necessary for companies to make products in the US. If you don’t manufacture in America, there will be tariffs. Donald Trump talked about the issues of EU, monetary policy, crude prices, Russia, China.
Trump spoke on monetary policy
The US Fed has been asked to cut rates. Cutting rates is very important for the economy. Will talk to Jerome Powell at the right time. Has more understanding of interest rates than Powell.
Trump spoke on China issue
Just want level playing field with China. Just looking for fair relations with China. It is expected that China will help in restoring peace between Russia and Ukraine.
spoke on crude oil
Trump said that Saudi will ask OPEC countries to reduce prices. Inflation rate will reduce due to fall in crude oil. If inflation rate falls then interest rates will also fall. The US has the world’s largest reserves of oil and gas. America will use its oil and gas reserves. 40% of December’s inflation was due to energy prices alone.
After Trump’s statement, crude fell to its lowest level in almost two weeks. Prices fell more than 3% in a week. US reserves fell for the 9th consecutive week.
Asian market
Meanwhile, mixed business is being seen in Asian markets today. GIFT NIFTY is showing a gain of 24.00 points. At the same time, Nikkei is seen around 40,176.05 with a gain of about 0.54 percent. At the same time, Strait Times is showing a weakness of 0.09 percent. Whereas Hang Seng is seen with a gain of 1.86 percent at the level of 20,066.36. At the same time, Kospi is trading with an increase of 1.85 percent. At the same time, Shanghai Composite is showing a rise of 0.75 percent at the level of 3,254.46.