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Today's Market Fundamentals
The mood was somewhat a little sour in the wake of Donald Trump’s twitter tirade on Sunday, there was a risk off mood against all asset classes this morning. Judging by Trumps comments over the course of the day, it does not seem as though he will be backing down. China have sent a “watered down” delegation to Washington and are said to hope they can get the US to meet them half way – you get the impression that the Chinese effort to stall has been played and now that is coming to haunt them. Trump has stated that the US refuse to lose over $ 500 bln per annum in trade, it seems as though trade tensions will only escalate further this weekend.
I am sure that there will be more to come from this story and rumours that the Chinese were trying to renegotiate something that had already agreed, suggests to me that the US will not budge. The other half of this story is that this does seem to be Trumps negotiating style, and so time will tell – what is for certain is that Trump has brought with his tweets some volatility.
More of these headlines, coupled with rumours that the Fed still harbour hopes of raising rates later this year means that it may be worthwhile looking for a stronger dollar this week.
Today's Market Trading Levels
1. DE30 SELL 12340 – 12380
2. Brent SELL 7150 – 7200
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