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Monday 13th August 2018
Hi Friend,
Trump's Turkish Tariffs Spook Stocks ...
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”Our relationship with Turkey, is not good at this time” Trump tweeted this week. 50% tariffs on steel and 20% tariffs on Aluminum do not make for great friendships.. The Turkish lira fell by 12%, the Russian Rouble followed. Inflation in Turkey increased to 16% in July. The Central Bank increased base rates to near 18%. Ten year bond yields jumped to 20.8%.
Fears of Turkish contagion damaged sentiment in European markets. The DAX and CAC fell. The FTSE rallied on Sterling weakness. The rally in US markets remains intact. The basing action in China continues, as attention moves away from US trade friction.
US markets continue to look attractive. We went long NASDAQ this week and will move into China this week. Some great trends are evident in currency markets. We expect $1.25 to follow the fall to £1.27 against the Dollar. Sterling will move lower to test the €1.10 level. The Dollar Euro cross rate will move to €1.1350.
"Trading Ranges" our new product for currencies, commodities and markets will be released next month!
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| | | | Our weekly review of markets, currencies and bond rates is back. We provide a more extensive update on trends in financial markets than is possible in The Weekly Saturday Economist. Just click on the link to access the complete PDF ...
We are working in partnership with eToro. We have established our "Empires of the Cloud" Fund with an intended value of $10,000 dollars. We are currently 70% invested. We moved into Square, Alibaba and Baidu this week.
With our tracker fund, we went long NASDAQ last week and will move into China this week. We like the DOW, S&P and the FTSE avoiding EU markets for now.
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Have a great week ahead,
John
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