US President Trump surprised global markets yesterday with a new set of tariffs to be imposed on Chinese imports to the US, 10% on 300B worth of imports as soon as September 1st, sending global markets sharply lower, “safe heavens” sharply higher and Oil to its biggest one day decline in more than 4 years. The JPY traded sharply higher versus majors as FX investors moved into “safe heavens”, rushing out of the AUD. EU equity markets are likely to follow US and Asia lower this morning, while US equity markets will expect the NFP numbers and more earnings today. Gold traded sharply higher on a move to safety following Trumps tweet yesterday, Gold prices closed up $27 at $1,438 per ounce, back near 2019 highs. Oil prices tumbled on the tweet, trading at $54.46 per barrel after a steady climb this week. Weak US construction data and lower than average refineries outputs also weighed on Oil investors yesterday.

US NFP and Employment rate and CAD Trade Balance at 1:30 pm are the important news on the agenda Friday. (all times GMT).

Global Markets 24 hours wrap-up
1 YEAR-2.34%0.12%1.77%0.6%-6.58%10.85%
Swing report
NASDAQ78808-4371/87924stopped out
OPEN PROFIT  $0  MTD -$437

Oil prices tumbled 7% on Trump tweet 

Nasdaq futures reverse a 1.8% gain into a 1% losing day on Trumps tariffs tweet

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