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Dumping Risk or panic attack?
Risk sentiment has gone in the tank on the continued rhetoric around Trump’s scheme to raise China tariffs to 25% instead of 10% with China claiming they will retaliate. Global equities have buckled while commodities like copper, oil and soybeans are feeling the pinch from escalating tensions. Oil prices were struggling to gain traction on the back of July production numbers from Saudi and Russia, higher domestic inventories and Saudi Aramco’s decision to slash costs on September deliveries in an attempt to sell more barrels are contributing to the bearish mode. However, prices are have turned higher in early NY ... (full story)
