The recovery of global equities continues, bolstered by the Trump Administration approving an exemption from massive tariff on electronic equipment from China. This accounts for nearly 25% of Chinese exports to China and is a massive step forward. Equity markets rallied across Asia, Europe and the USA. US Bond Yields calmed down and the US Dollar continued to lose ground. The EUR charged towards 1.1350, while the GBP jumped above 1.3150. Chinese data confirmed a massive increase in Chinese exports to the world and huge trade surplus, but this will be impacted, if a deal between the US and China is not made soon. The US is negotiating deals with more than 100 Countries currently.The flagging reserve allowed further gains in the commodity currencies, with the AUD breaking back above 0.6300, while the NZD surged to 0.5850. Trade and tariffs will continue to dominate global markets in trading this week.
