Prior to his inauguration in January 2017, Mr Donald Trump had set his sights on the reform of ‘Obamacare’, repeatedly commenting throughout his Presidential Campaign that he would break what was one of Mr Barack Obama’s most prized reforms of his Presidency.
The defeat of Mr Trump this week was a huge blow to his Presidency as it is clear that although his Republican Party have a majority there are still divisions within it. Because of this defeat, markets are nervous about the possibility of the Trump Administration failing to push through the market friendly Tax Reforms, with the record highs that the Dow Jones reached early this year being eaten into slightly.
Furthermore, reports published last week saw US Existing Home Sales down by 3.7% in February and, for the first time since 2013 House Prices stalled. Although Chinese House Prices have stalled since the start of the year, it is important to note that the Government Intervention there, had seen prices stall in what was a booming market – tighter credit regulations and increases in the minimum deposit have been used to cool the overheated market, so comparisons between US and Chinese Housing Markets would be unwise, but it does seem that the honeymoon period for the 45th President may be over.
Calming Energy Markets
In addition to Gas and Electricity offers being helped by the strength of the British Pound, a slight decline in demand as milder weather starts to return, and a reduction of Oil Prices has most certainly helped.
As a result, Electricity Front Month offers have reduced by 9.94% since the start of this month whereas Gas Front Month offers have reduced by 12.26% over the same period, forcing many suppliers to withdraw their matrices and release cheaper models.