Giving his second
State of the Union address, President Donald Trump reiterated his view on
border security and illegal immigration. Trump also told the US Congress a
trade deal with China would require structural changes to end unfair trade
practices and pushed for additional legislation that could expand his power to
impose tariffs.
Oil slipped
after a report from American Petroleum Institute showed a rise in US crude
inventories, while concerns about tightening market in 2019 due to OPEC-led
supply cuts and the impact on global supplies of US sanctions on Venezuela
faded. WTI crude prices have hit a low of $52.86.
US Treasury
Secretary Steven Mnuchin expressed confidence that the US and China can iron
out their trade differences. Mnuchin further stated that the recent meeting
with Chinese Vice Premier Liu He was very productive and US delegation will
visit China next week for trade talks.
Dallas Fed
President Robert Kaplan said the Federal Reserve can be patient by watching the
economy without changing monetary policy for the next several months until
there is greater clarity regarding several uncertainties relating to the
economic outlook and development of financial conditions.
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