Dirhams & Dollars

Summer slump? No such thing in the world of politics, as developments in Washington DC threaten to shake the markets yet again. With the conviction of two of US President Donald Trump’s former aides, the spectre of a showdown looms large, potentially scaring investors who are currently enjoying the longest bull market in history (stocks have made uninterrupted gains since the market hit bottom in March 2009). Elsewhere, trade deals linger on the horizon, as Nafta (the North American trade pact) talks reportedly make progress, with the Mexicans claiming that Trump has dropped one of his stiffer demands regarding a ‘sunset clause’. The scarcely-reported trade talks between the US and China last week ended with nothing to show, potentially presenting yet another powerful headwind to global commerce. Finally, a slew of country economic data is on offer for number nerds this week. Huzzah!