2 July 2018

Bassanese Bites: Trade Wars – Week beginning: 02 July 2018

Trade jitters were the major concern affecting global markets last week, which contributed to lower global equities, bond yields and the $US. Fears that Trump was about to impose new restrictions on Chinese investment in tech companies jolted sentiment, though the Administration backpedalled a day later and agreed to adopt a less country-specific piece of legislation doing the rounds of Congress.  Trump’s insistence that countries should not accept Iranian oil also added to upward pressure on oil prices, though Trump is now trying to get Saudi Arabia to lift production and keep petrol prices down. Brent Crude tested its recent highs around $US78.50, which in turn helped the global energy producer ETF,  FUEL rise 3.5% last week.

Click to read the Full Report

< Back to Blog