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EU v Trump Trade War to Strike up Again and EOS Back to All Time Highs Alone

Hey guys,

Just a quick Saturday market update before I head out the door this evening.

Being a Saturday, I’m not feeling inspired to write a whole lot today, but with so much happening I feel condemned to get this blog out.

Enjoy your weekend guys. I know I sure will!

🍺🍷.

Market Overview

For a Saturday, there’s a bit going on in the world, isn’t there! Don’t these world leaders who are moving markets know that it’s the weekend?!

Well I guess that if you asked Kim Jong-un then he’d tell you that every day of the week in North Korea is so amazing that it may as well be a weekend.

This was the moment that Jong-un stepped across the DMZ and into the south. Moon even took his hand and stepped into the North. Something unscripted if you ask the Japanese.

They’ve discussed peace and ending the decades long war that the countries have technically still been at with one another. They even spoke about denuclearisation!

But realistically, all this was just a facade and won’t have a meaningful impact on markets next week. Kim just wants to smile and squeeze all he can from the economic sanctions he finds his country under.

What will move markets next week though is Trump’s decision to extend their trade tariff deadline on countries that have been exempted past May 1. They have of course set import tariffs of 25% on steel and 10% on aluminium.

There are plenty on the list, but the one that markets really care about is with the European Union. The EU have some leverage of their own through their own important from the US, so there should be quite the battle here.