Commodity focus returns to US-China trade tiff
By Ole Hansen, Head of Commodity Strategy at Saxo Bank
May 12, 2019 - Dubai, UAE
It took one Sunday tweet from President Trump to shatter the relative calm across global financial markets. Instead of going into a week widely expected to yield a long-awaited trade deal between the US and China, the president instead tweeted that he was preparing to lift tariffs from 10% to 25% on $200 billion worth of Chinese imports.
The decision was taken in response to an apparent backtracking by China on almost all aspects of the trade deal. Predictably, it spooked the market and risk sentiment was hit across the board, with safe-haven US bonds and the Japanese yen being two of the few markets ......Read More
