The dollar traded sharply lower Friday as investors fear that the US China trade war and the new tariffs imposed by the Trump administration on Mexico will affect global growth and sent global trade spiraling lower on the way. Investors took to the “safe heavens” in response, flocking into the JPY and CHF and into Gold. The JPY traded higher more than 1% while Gold traded at two months highs of 1315$ per ounce. Global equity markets responded Friday with another move lower led by automakers in the US, GM down 3.5%, and the technology sector, sending the Nasdaq 8.5% lower in May, the worst month so far this year. The biggest loser for May turned to be OIL, now trading at just above 53$ per barrel, down a whopping 18% in May, its worst month since November 2018.
US ISM Manufacturing PMI at 1:30 pm is the important news on the agenda Monday. (all times GMT).
Global Markets 24 hours wrap-up
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