Market sentiment took a turn to a more defensive stance, following a Monday packed with belligerence on the trade front as the US announced its intention to impose new tariffs on South American metal imports, as well as on French products. This represents the opening of new fronts in the ongoing global trade dispute, leading to a switch to risk-off in investors’ mood, which explains the generalised decline in equities.
In terms of impact on currencies, the US Dollar appears to be suffering the most, having lost more than 0.5% against a basket of other major currencies, since last Friday’s market close. However, heightened trade tensions aren’t the only driver behind the greenback’s weakness; figures published on Monday showed a decline in US industrial output, which according to some analysts could be consistent with a contraction.
Photo by Annie Spratt.
Has undertaken a number of senior roles in his current employer including running the international desk, responsible for managing sales, customer services and marketing functions for a number of territories, as well as acting as a regular public speaker at events and contributor to TV and other media through interviews and market analysis. Since November 2016 he has been the Senior Executive Officer (SEO) of ActivTrades Dubai branch, having overall management responsibility of the branch. Prior to joining ActivTrades Ricardo worked in the IT and Financial industries.
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© 2019 High Leverage FX - All Rights Reserved.