James Hughes, chief market analyst at GKFX, said: “Trumps victory speech was the initial catalyst for the move higher in markets and his interview over the weekend for US chat show 60mins also showed a calm, collected and level-headed Donald Trump. A far cry from the man the world saw during his campaign.”
He adds that Trump’s “persona since his election win cannot be underestimated as a calming influence on the financial markets”.
As a result, the S&P 500 has stabilised following an immediate sell-off after the election, while gold has fallen almost 5 per cent since the result as worried investors had moved their money into the traditional safe haven in anticipation of a market collapse.
Source: TrustNet
