Ipek Ozkardeskaya
Swissquote Bank Ltd
Markets kicked off the week on a positive note on relief regarding the consumer electronics tariffs – that will not be exempt but will be part of a different ‘tariff bucket’ (20% instead of 145% for those made in China). Then, there was some relief for auto and part makers, as well. As such, the European stocks rallied 2.70% on partial rollback of the tariffs, the US stocks kicked off the week higher but euphoria weakened into the session end on news that the US Commerce Department launched a probe into chips and pharmaceutical imports on national security reasons.
This morning, the futures are flat with Nasdaq futures under pressure. Sentiment is fragile on bipolar announcements from the US that’s taking a toll on companies’ and investors’ ability to make decisions...
Uncertainties persist but the good news is that the pressure on the Treasuries front remains bearable – and that is one place to watch carefully to judge how dangerous volatility gets. The US dollar remains offered, however as gold trades near record highs as price projections are being lifted higher.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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