Global markets are now in the grip of uncertainty, due to the latest political football, Huawei Technologies’ chief financial officer was arrested in Canada over potential violations of U.S. sanctions on Iran, provoking outrage from China and complicating thorny trade negotiations just as they enter a critical juncture. U.S. equity futures and Asian stocks dropped as the episode reignited concerns about U.S.-Chinese tensions.
Yesterday’s comments by the Bank of Canada caused the Canadian dollar to weaken as it has put interest rates on hold, this is due to the current oil crisis and the unpredictability of China’s trade relations with the US.
Expect further volatility.
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