Will Thursday's markets be driven by more trade war moves or talk of invading a new area of the world coming from the US White House. Grab your popcorn.
Overnight saw a number of markets reverse course from Wednesday's close, most notably the US dollar seeing renewed buying interest.
The Grains sector was higher across the board though trade volume was down from what has been registered overnight so far this week.
Morning Summary: What will the US administration say today? That is the question. As we’ve watched play out over the past few weeks, markets continue to come unhinged at whatever the latest statement from the White House is on a nearly daily basis, ramping up the volatility across the board. Will it be tariffs against trade friends and foes alike are back on? The announcements of retaliation from those same friends and foes? Or has the administration put another region of the world on the list “To Be Invaded”? So far, according to my faulty memory, this list includes Mexico, Canada, Panama, Greenland, and the Gaza Strip, though I may have forgotten one or two along the way. Vlad must be so proud. As for markets, something seems to be brewing early this Turnaround Thursday. (Yes, a Turnaround rather than the classic Throwaway. I think we can do away with the idea there will be dull days for the foreseeable future.) WTI crude oil is in the green, to go along with the stronger US dollar index ($DXY) and weaker gold and silver markets. It’s interesting to note March silver is being hit the hardest, down as much as 65.0 cents (2.0%) through pre-dawn hours.
