Fears of an extended trade war between the United States and China have sent global markets skidding. Asian stocks have fallen to a four month low and oil plunged yesterday on fears that the trade dispute was more likely to become an entrenched war of attrition.
Yet we did not see the declines that we saw yesterday on Wall Street where a 400+ point intra day loss was pared into the close with the index settling 286 points lower. The Hang Seng is currently 64 points higher whilst the Nikkei225 is 78 points lower.
European markets are pointing to a slightly firmer at the open this morning with the EU elections looking to set the tone for much of the day.
I remain long GBP/USD and am looking to buy DAX futures below 12,000 at the open