Placing Trump at the centre of many issues at home and abroad will backfire. Free markets don't run on political gasolene and market inefficiences are intensifying within countries and between countries. Having placed their faith in a WTO structure another WTO structure might replace it (With Trump Outside).
Talk Of Auto Tariff Delay Saves The Day
Risk sentiment was buoyed by reports that the US government is likely to delay auto tariffs to the EU and Japan up to 6 months. The Japanese Yen was the currency most punished by the news just as equities in the US turned around and never looked back. The fact that US President Trump plans to fight one trade dispute at a time rather than having too many fronts open, with his plate rather full having to deal with China and the revised NAFTA deal, was translated in an immediate spike in the Euro. Regardless of the renewed demand for the Euro, the DXY is not backing off, still trading quite firm across the board. The best ... (full story)