In his letter, this was the actual wording: "There are many uncertainties surrounding the new tariff policy: the potential retaliatory actions, including on services, by other countries, the effect on confidence, the impact on investments and capital flows, the effect on corporate profits and the possible effect on the U.S. dollar. The quicker this issue is resolved, the better because some of the negative effects increase cumulatively over time and would be hard to reverse. In the short run, I see this as one large additional straw on the camel’s back."
I wouldn't put it past the algos to also misconstrue the meaning. But if anything, it also shows that this market is also looking for something to get in on the dips. And that's perhaps one positive takeaway here.
All it would take is for trade deals to take shape in the next two days and Trump renegotiating tariffs with some countries and we should start to see markets pick up on that.
This article was written by Justin Low at www.forexlive.com. Read More Details
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