Will Cunliffe
Research Analyst, Flux
TACO TIME!
Trump loves his Tacos, Dubai is strong out of the gate in February, and more mixed messages from China.
Trump loves his Tacos, Dubai is strong out of the gate in February, and more mixed messages from China.
We can summarise this weekend in simple terms: markets fall on another TACO buffet! Trump knows his position is precarious: Republicans are losing votes in Texas and he needs some wins – Iran would not be an easy one at all. For oil that means prices are down, as one trader put it, 'the mood is to cut back before Trump does another trickery. April Brent continued to slide through the Asian session, dropping to $66.29/bbl by the close and touching the 65 handle after that. Precious metals kept plunging too, with gold and silver down another 5% and 6.8%. But on the ground in Dubai and across Asia, the prices seem right, with investors flocking to buy the dip! We saw many buying physical gold at the Dubai Souk. No silver buying though.
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