Asian markets remained generally in green territory this morning, with Wall Street momentum remaining where the US and China and their trade war fired the S&P 500 over 3K, with DJIA also rising above 27K. This is due, of course, to optimism that China has announced a list of non-tariff products until Donald Trump returned the gesture by postponing the next round of penalties until October 15, October 1, the previous.
Currently, the S&P 500 is around 3011, falling rapidly and then rising again due to rumors of a potential preliminary meeting between the two countries, which was later denied by the US president himself.
With that said, let’s take a look. If the positive risk of sentimentation persists (this seems to be a common wish at the moment), expect the yen and franc to suffer. However, as I mentioned, sentiment can change very quickly. Sometimes just because of a single tweet from Trump. So be prepared to quickly change your outlook and make sure you look at the big picture before entering into a deal.
Trader Aleksandar Kumanov