EU Publishes List of Tariffs on US Goods

19 March, 2018

Over the weekend, the EU published a list of tariffs on US products in response to the US tariffs on Steel and Aluminium. The total value of EU tariffs is up to €6.4 billion and this list is for “stakeholder consultation” purposes only. The EU will make the decision on whether to impose the tariffs in three months time but this is a clear signal to the US. Stock markets are trading lower and EURUSD is back to Friday’s lows around 1.22634.

Eurozone Consumer Price Index – Core (YoY) (Feb) was released and came as expected, unchanged in at 1%. Consumer Price Index (MoM) (Feb) was 0.2% v an expected 0.2% from -0.9% previously. Consumer Price Index (YoY) (Feb) was 1.1% v an expected 1.2%, from 1.2% previously. Consumer Price Index – Core (MoM) (Jan) was as expected at 0.4%, from -1.7% prior. Inflation rose late in 2016 and early in 2017 to 2.0%, the highest levels in five years, but has stabilized around 1.3% since June (YoY). The ECB is looking for inflation to “approach 2%”. Labour Cost (Q4) was 1.5% v an expected 1.8%, against a previous reading of 1.6%. EURUSDmoved lower to 1.23178 before turning higher to reach 1.23311 due to this data.

US Housing Starts (MoM) (Feb) came in at 1.236M v an expected 1.290M, from a previous number of 1.326M, which was revised up to 1.329M. Building Permits (MoM) (Feb) were 1.298M v an expected 1.320M, with the prior reading of 1.377M, which was revised down from 1.396M. As expected, this data showed a slight fall in residential construction activity but, overall, these data points have been recovering since hitting lows of 0.46M and 0.49M respectively in 2009, after the financial crisis. The readings last month were the highest since those lows in both cases. EURUSD sold off from 1.23282 down to 1.23000 after this data release.

Source link  
Cautious mood has returned to stocks

American markets ended trading on Wednesday with a slight increase. Asian bourses also experienced growth at the opening, but it was quickly...

Emerging markets rebound seems over

Asian markets have turned to a decline with a renewed force. After the rebound of last week, the index MSCI Asia ex Japan loses 1.2% and is only...

Rebound in Asian markets intensifies

On Friday morning, the demand for risks on the Asian bourses continues to recover. MSCI for Asia ex Japan is adding more than 1.2% this morning, having...

Reasons to rebound EM indices

Asian markets are adding after reaching 14-month lows the day before. Positive markets are supported by the reports about China's invitation to trade...

Strong data supports U.S. markets

Stocks of the Emerging Markets remain under pressure on Wednesday morning, with positive sentiments prevailing in American markets following...

Pound press dollar on news about Brexit

Michael Barnier, the EU's top negotiator on Brexit, called a reaching of the agreement on the deal within next 6-8 weeks realistic. This news supported...

Brent reversed from resistance level

Brent Crude Oil recently reversed down sharply from the major, multi-month resistance level 79.50 (which has reversed the price multiple times from the...

EM Markets sale-off spreading to DM

The current weakness on the developing countries financial markets is the longest since 2008. The similarities go further than that: as well as 10 years ago...

The price for trade uncertainty

The markets are cautiously on buy for American stocks, and the dollar adds on fears that trade conflicts are seriously stifling the business sentiment...

In the past 24 hours Bitcoin has lost -0.14% and reached $6485.1519171. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 0.6352% and is now at $1.1587. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -1.77% and is now at $204.370281623. Have the most popular cryptocurrencies compared online 24/7.

Top Brokers offering Daily Forex Market Reviews

Forex Currencies Forecasts

Top 10 Forex Brokers 2018

# Broker Review
6FIBO GroupFIBO Group84%