Risk off is definitely the theme today.
Asian stocks and U.S. futures tumbled on Trump’s
Mexico tariff surprise, while reports of Beijing’s plan
to restrict exports of rare earths to the U.S. if needed
added to ongoing trade war angst globally. Data also
showed China’s manufacturing sector slowed more than
expected in May.
JPY crosses have been sold aggressively. Today we
favour only pullbacks in order to get acceptable
risk:reward.
Asian stocks and U.S. futures tumbled on Trump’s
Mexico tariff surprise, while reports of Beijing’s plan
to restrict exports of rare earths to the U.S. if needed
added to ongoing trade war angst globally. Data also
showed China’s manufacturing sector slowed more than
expected in May.
JPY crosses have been sold aggressively. Today we
favour only pullbacks in order to get acceptable
risk:reward.
