If there is a glimmer showing its that the trashing of risk has stabilised a little.
Sell the risk rally remains a better bet than buying the dip, though if you are scalper, both will work.
Trump’s loss of credibility in markets is going to be ongoing problem. You never know what the next tweet will say, or the next lame excuse for bad policy will be. Here are two just from today:
- Lutnick said tariffs on penguins were included to prevent circumvention (the islands are part of already tariffed Australia)
- Trump shrugged off markets collapsing said markets need medicine
This article was written by Eamonn Sheridan at www.forexlive.com.