Good morning everyone and welcome to new market updates.
It’s going up to be a very interesting, and most likely volatile week, with all eyes on Wednesday when the Trump administration is expected to announce its tariff plan. Markets remain in risk-off mode due to the ongoing uncertainty. Over the weekend, there were even reports saying that Trump may introduce a 20% global tariff on all imports into the US.
Such a move could seriously shake the markets, which are already positioned cautiously amid rising recession concerns. We saw a sharp drop in the S&P 500 and other major indexes at the end of last week, along with falling US yields; a clear sign that investors are pricing in economic risk. As a result, the Japanese yen and gold are gaining strength, while the dollar remains sideways and somewhat confused. Keep in mind, even though Trump wants global companies to move operations into the US, that won’t be easy to achieve. Many may simply look for alternative solutions instead.
For my latest Elliott wave outlook on Dollar, cryptos, gold and some single stocks, make sure to check our video below.
Grega
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