…Again. this time though with non China tweet as he says he will hold off on Auto tariffs for 6 months.When I typed up Morning Outlook Auto sector in europe was down 1.8% currently trading +1.7%,Dax rallied +1.8% on the announcement turning from red to green trading +.8% on day,euro if you cn believe it showed some sign of Life and actually rallied a bit.Spoos rallied some 22 handles, 1.1% turning losses into gains as well,currently trade +3 handles on day.
Palladium rallied smartly on the Headline One of only handful of times I can remember it responding to a handline. Soybeans reacted negatively to A Mnuchin Comment saying More work needs to be done on china trade deal,soybeans back down to early morning lows.Too much Bullish news out there for Oil to ignore regardless what weekly EIA stats had to say.Oil was already leaning bearish so it would have taken some really bearish news to push prices lower,they didn’t get it.
Risk Off theme has turned from Risk off to risk on