Market Recap: Trump Set To Add Another $200bln Worth Of Tariffs
Monday mornings start off on a sour note with Donald Trump demanding more
Major indices traded mixed overnight as the Shanghai Comp. lost 1% following the US threatening more tariffs on Friday. The Nikkei is closed as it is a public holiday in Japan and the ASX traded 0.31% higher. In UK news, the UK may accept a deal that allows a frictionless Irish border (according to the Times)
In commodities markets, copper moved higher following Fridays fall. The industrial metal now trades at $2.6033/lb after hitting $2.57/lb following the announcement that the aforementioned tariff announcement.
Gold (0.20%) is also trading slightly higher this morning, the precious metal is still trading below the pivotal $1200/oz level. The softer USD over the Sunday night through to this morning is providing the catalyst for the move.
Oil markets have been very choppy of late, concerns of high output are keeping the liquid gold subdued. Last week the EIA reported that world production hit 100mln bpd and we are left to see what the hurricane in the US has done to production levels....