Trump walked back comments on Syria this morning, stating “never said when an attack on Syria would take place. Could be very soon or not at all.” European markets rebounded on the scale back from the US president.
Greenback weakness is a casualty of trade war rhetoric, as investors weigh concerns of escalating conflicts and seek alternative safe harbours.
Oil is coming off 2014 highs despite geopolitical risks continuing to linger. OPEC has signaled a tighter oil market towards the end of 2018 as March oil output fell 201,000 bpd.
WTO issues warning of China-US trade tensions could compromise global growth.
The Federal Reserve’s hawkish tone signals a move towards a “slightly steeper” pace of interest rate increases as outlook for growth and inflation strengthens.
NAFTA top cabinet officials from the US, Canada and Mexico plan to meet by the end of the week as a push to reach a preliminary deal continues.