Trade Wars with China: Bloomberg reported mid-day Friday that Trump had instructed aides to proceed with tariffs on about $200B more of Chinese products. Market reaction was surprisingly muted. US stocks fell back (a bit) and the US Dollar rallied (a bit) on the news.
Polar Futures Group
Polar Futures Group is the team of Victor Adair and Drew Zimmerman who have worked together for over 5 years. Together they offer over 50 years of experience trading in financial markets. They specialize in trading currencies, interest rates, precious metals, base metals, financial indices, energies and agricultural exchange listed futures and options contracts .
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Emerging Markets, which have borrowed trillions of US Dollars, have been in the spotlight with some EM currencies down hard. For the past few months I have referred to the weakness in 2nd and 3rd tier currencies as the “stealth strength” of the US Dollar.
Contagion risk inspired a sharp swing to “risk off” across asset classes this week. The US Dollar Index (USDX) surged to 14 month highs while the “stealth strength” of the US Dollar against 2nd and 3rd tier currencies was spectacular.