Trump's Inaugural Speech: oil, government efficiency and peace-making

Summary of Donald Trump’s Speech:

Domestic Policy:

• Border Control: Trump announced the introduction of a state of emergency at the southern border and a focus on issues related to illegal immigration.
• Support for Citizens: Resources will be allocated to help Americans (e.g., addressing inadequate aid after the hurricane in North Carolina).
• Security and Justice: Trump emphasized restoring order in the country, potentially hinting at pardons for events related to January 6, 2021.
• Department of Government Efficiency (DOGE): Trump announced the creation of a new institution. The mention of "DOGE" caused a 4% rise in Dogecoin.
• Reinstatement of Military Members: Those discharged for refusing COVID vaccinations will be allowed back into the military.
• Geographic Name Changes: Plans to rename the Gulf of Mexico as the "American Gulf" and to restore the historical name of Mount McKinley instead of Denali in Alaska.

Economy and Energy:

• Energy and Oil: Trump announced the resumption of drilling permits (“Drill Baby Drill”) and aims to solidify the U.S.’s dominance as a leading oil and gas producer.
• Support for the Oil Sector: Plans to suspend support for the electric vehicle industry in favor of traditional automotive sectors.
• Tariffs and Taxes: Trump proposed imposing tariffs and taxes on other countries to increase U.S. wealth.

Foreign Policy:

• Ending Wars: Trump promised not to initiate new military conflicts.
• Panama Canal: Declared a goal of reclaiming control over the Panama Canal.

Symbolic Declarations:

• Plan to Plant a Flag on Mars.
• Political Comeback: Trump emphasized adherence to campaign themes that have garnered public support.

Market Reactions:

• EUR/USD: High levels were observed earlier due to reports on tariffs, but the rate returned below 1.0400.
• Bitcoin: Dropped 1% after previously hitting a historic high of 109,000; currently trading at 102,000.
• Oil Prices: Continued declines, primarily after 2:30 PM, following reports of no significant tariffs being introduced.