Too early to call the end of rotation [Video]
|![Too early to call the end of rotation [Video]](https://editorial.fxsstatic.com/images/i/Commodities_Oil-1_Small.jpg)
The week started on quite a positive note on hope that the next wave of US tariffs – expected to hit the ground on April 2nd - would be more targeted and more measured than previously thought. But Trump still threatened to impose 25% levies on countries that buy oil from Venezuela.
Crude oil, US equities and the US dollar gained, treasuries and gold sold off while European and Chinese indices posted small losses. Overall, Monday saw a correction of the rotation trade that hit the US equities and boosted the European and Chinese equivalents so far this year. Whether it’s the beginning of the end of the rotation, or just a correction is yet to be seen. April 2nd will be the next important test for the global markets depending on the announcement of reciprocal tariffs - which will probably upset more than one.
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