At the onset of the week, global economies are wrestling once again with tariff uncertainties.
Last Friday (Feb 20th), the US Supreme Court struck down President Trump's tariffs - a key event risk we'd had already highlighted last week.
At the time of writing this Monday, Feb 23rd:
- US stock futures are down 0.6 - 0.9%, with Bybit's SP500 - which tracks the benchmark S&P 500 - resisted at its 50-day simple moving average (SMA) once more.
- The US dollar is weakening against all of its G10 and Asian peers, except against the Australian Dollar (AUDUSD+) which is flat, amid concerns over the state of the US fiscal position
- Gold (Bybit: XAUUSD+) is buoyed above the psychologically-important $5100 level, while Silver (XAGUSD) is rebounding towards the $90 psychological level, amid rising demand for "safe havens" (assets which help investors protect their wealth during times of heightened risks and uncertainties).