In today's edition of 'What on earth is going on'?

I must confess, pre April 2, I thought we'd get a flurry of 'tariff volatility' on the initial announcement. But soon after 'tarrifs' would become old news.

I couldn't have been more wrong.

The severity of the initial announcement has ensured tariffs remain front and center of everyone's mind.

The most recent news being positive comments (from the president himself) during the Asian session, causing 'risk on price action,'. Only for China to deny all knowledge just a few hours later. And all positivity is once again tempered.

I wasn't about late asia or early European sessions. But if you did place a 'risk on' trade, I would suggest it was the right thing to do despite it probably stopping out.

My current view is to let today and the weekend pass by. And reassess next week.

The good news is, we have had periods of 'standard risk on movement' this week. And once China and the US eventually come to a compromise, we could see a sustained period of positivity.

Feel free to offer thoughts or ask questions: johnelfedforexblog@gmail.com