Global markets were sent into a tailspin, following the US Supreme Court decision last Friday, ruling against part of Trump’s tariff policy. The immediate response from Trump, was the replacement of the ‘reciprocal tariffs’, with a flat Global Levy of 15%. European markets were steady, seeking clarification of the global trade policy, moving forward. The EUR traded around 1.1800, while the GBP hit 1.3500. Oil prices remain stressed, while negotiations between Iran and the US continue, ahead of what looks like an inevitable US/Israel military intervention.Asian markets were quiet with holidays in both China and Japan. The reserve was slightly firmer, with the AUD drifting back towards 0.7050, while the NZD holds above 0.5950. Trade turmoil and Geo-Politics from the Middle East, will continue to dominate markets, this coming week.
