The Trump administration steps forward with a tariff hike against China this week.
Will this last? Many think not. There is still a window of opportunity for an agreement to be reached. As such equity markets traded firmly today. However US equities did open weak yesterday, and led to a new multi-week high in the VIX Index. Investors and traders are probably hedging their portfolio with some defensive assets, such as gold, gov bonds, volatility, and Yen.
Overall, until the Sino-US trade issue is settled, expect further price volatility.
The biggest rally in town these days is found in Bitcoin, which stormed through the $6,000 level recently (see Featured Chart). As the rally accelerates into new 2019 highs, this will attract more momentum players. The next upside target is $6,800. If long, stay so with trailing stops.
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Jackson has over 15 years experience as a financial analyst. Previously a director of Stockcube Research as head of Investors Intelligence providing market timing advice and research to some of the world largest institutions and hedge funds.
Expertise: Global macroeconomic investment strategy, statistical backtesting, asset allocation, and cross-asset research.
Jackson has a PhD in Finance from Durham University.