Geopolitics took a backseat last night with Trump’s Wall Street Journal interview dominating market moves. Trump stated the US Dollar is too strong and that he likes a low-Interest Rate policy. That saw the US Dollar immediately gap lower along with US Bond Yields. Equities ended the day down caught between continuing geopolitical concerns and the beginning of the profit reporting season. Trump in a WSJ interview said: “I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me. But that’s hurting — that will hurt ultimately,” “It’s very, very hard to compete when you have a strong dollar and other countries are devaluing their currency.” Those comments sent the US Dollar into a dive, causing it to gap lower by 0.6% with the Bloomberg DXY now at 100.12 – its lowest level since 30 March 2017. Other currencies correspondingly surged. The Euro hit 1.0666 up 0.6%, the Yen up 0.5% and now sitting at 109.00 – its best since mid-November. The Australian Dollar also got into the action, launching to 0.7522 and up 0.3% on the day. However overnight after the much higher Employment data the AUD rose further and is currently trading at 0.7600.

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For anyone following my Platinum Service it made 86 points yesterday and is now ahead by 677 points for April, having made 1335 points in March, 1481 in February and 1734 in January. The previous seven months saw gains of 1351, 1971, 1582, 1142, 1782, 1682 and 2550 points respectively. Since I started this new Platinum Service in June 2015 it has averaged a monthly gain of over 1750 points.

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