It has been another day of mixed trading in the wake of Donald Trump’s press conference. He didn't talk much about his fiscal plans and said nothing about taxes or infrastructure focusing mainly on Russia, intelligence leaks and how he plans to distance himself from his businesses. He took shots at the drug industry noting he plans to change how they bid for government payments which sent biotech and pharmaceutical stocks down sharply, dragging on the S&P and the NASDAQ. Complaints about the cost of the F-35 fighter program impacted Lockheed Martin briefly but that impact quickly faded. Overall, it looks like the street will have to wait for Inauguration Day January 20th and beyond for more details on what Donald Trump plans to do as President. Meanwhile, Congress is working away and we may see more of a focus on Cabinet appointees with confirmation hearings underway. Crude oil staged a big bounce from two days of sharp losses with WTI gaining 2.6% and gasoline rallying 3.1%. These advances come despite a second week of big increases in US inventories indicating that with WTI having held $50 the recent trading correction had run its course and oil ws ready for a rebound. Without a boost from the press conference, the exhausted US dollar continues to backslide. AUD and NZD were the biggest beneficiaries along with SGD, gold and JPY to a smaller extent. CAD rallied on the double combination of the weaker Dollar and oil rally. It’s a light day for Asia Pacific news but traders appear to be optimistic about the outlook for resource demand in 2017 and positioning for tomorrow’s Chinese trade numbers looking for confirmation of an improving Chinese economy. Corporate News There have been no major announcements after the US close today Economic News Significant announcements released overnight include: UK trade balance (£4.1B) vs street (£3.5B) UK industrial production 2.0% vs street 0.7% vs previous (1.1%) UK manufacturing production 1.2% vs street 0.4% vs previous (0.4%) UK construction output 1.5% vs street 2.0% Greece consumer prices 0.0% vs previous (0.9%) Upcoming significant economic announcements include: (Note: 11:30 am in Sydney/Melbourne is currently 1:30 pm in Auckland, 4:30 pm in Vancouver, 7:30 pm in Toronto/Montréal, 12:30 am in London and 8:30 am in Singapore) 9:00 am GMT Italy industrial production street 2.0% 10:00 am GMT Eurozone industrial production street 1.6% 8:30 am EST Canada house prices street 0.3% 8:30 am EST US jobless claims street 255K CMC Markets is an execution only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.