US equity markets closed on a high last Friday after a week of losses, shaken up by the looming global trade wars. Tariffs on Canada, Mexico and China begin next week and European tariffs loom large. The big news Friday was the unprecedented blow-up in the Whitehouse between Ukraine President Zelensky and President Trump. Never seen before scenes of a heated argument, between the two Presidents, ended with Trump loudly warning the Ukrainian. This will test any future support for the Ukraine and should bring an early end to the 3-year plus war. The US Dollar continued to rally strongly, with the EUR crashing to 1.0360, while the GBP stumbled to 1.2560.The resurgent reserve battered the commodity currencies, with the AUD falling below 0.6200, while the NZD crashed under 0.5600. The trade wars are set to dominate markets, in the coming week, while the focus on US markets, will be employment numbers. ADP and Challenger reports will be released during the trading week, while the culmination will be the Non-Farm Payroll number, released Friday.
