Trump wants a further $200 Billion of tariffs

19 June, 2018

While there was risk yesterday from Central Bankers very little was said to move the market. Instead the Trade War narrative boiled up again with the latest headlines that US President Trump is planning to impose an additional $200Bn in tariffs against China. The increase in intensity has markets rattled with stocks lower globally, Japan 225 Index down -1.75% overnight, and strong moves in USD Index as it fell below $95.00 yesterday, currently trading at $94.66. There was a noticeable shift in sentiment with USDJPY back down under 110.000 overnight. AUDUSD fell to a one year low at 0.73806 as Australia is at risk of spill over from the impact of US tariffs on China.

In Germany, Angela Merkel is under pressure politically as a two week deadline was imposed upon her to agree a deal on migrants. This deadline will fall at the end of June and failure is likely to result in a break in the coalition and her being forced from her position as Chancellor. The German 30 Index fell yesterday -1.3% from 13064.00 and has declined further overnight with the index expected to open around 12710.00.

US WTI Oil staged a recovery yesterday from support at $63.36 to a high of $65.78 after declining on Friday ahead of OPEC meetings this week. Headlines suggested that the production increases to be discussed at the meeting were much less that was reported, 300K to 600K against 1M to 1.5M barrels per day. The preliminary meeting is taking place today in Vienna and the market may be impacted by headlines from participants. Russia and Saudi Arabia want to increase production while Iran, Iraq and Venezuela want to maintain current levels.


Source  
New U.S. House coronavirus bill contains $3 trillion plus in aid13 May, 2020  

The Democratic-led U.S. House of Representatives unveiled on Tuesday a sweeping new coronavirus bill with more than $3 trillion in assistance to states...

The phantom threat of inflation and fears of the virus second wave12 May, 2020  

Asian indices are losing about 1% on Tuesday morning while futures for European and US indices point to open in the red. This is associated...

UK could start lifting coronavirus lockdown measures7 May, 2020  

Britain now has the highest Covid-19 death toll in Europe, according to the latest official figures, climbing past Italy which, alongside Spain, has been among the...


Scientists Create Antibody That Defeats Coronavirus in Lab5 May, 2020  

Scientists created a monoclonal antibody that can defeat the new coronavirus in the lab, an early but promising step in efforts to find treatments and curb...

Saving more money than ever is destroying the economy4 May, 2020  

The COVID-19 pandemic is hurting many spheres of the economy. To slow the spread of the virus, the government told people to stay at home. Tons of businesses...

US weekly jobless claims hit 3.84 million1 May, 2020  

First-time filings for unemployment insurance hit 3.84 million last week as the wave of economic pain continues, though the worst appears to be in the past, according...


These countries effectively contained the coronavirus28 Apr, 2020  

Countries like Australia, New Zealand and South Korea are among the few which managed to buck the trend and put a lid on the coronavirus outbreak, at least for now...

Europe Is Taking a Harder Look at China After Virus Suspicions20 Apr, 2020  

European governments struggling with the fallout from the Covid-19 pandemic are hardening their positions toward China as suspicions grow over...

Coronavirus crisis could pave the way to universal basic income16 Apr, 2020  

The coronavirus crisis has revitalized calls for a universal basic income, with even the Pope suggesting that now may be the time to consider giving everyone free money...