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On Monday, stock futures found themselves in Asia due to the fact a standoff in China-US trade negotiations affected risk appetite, backing safe harbors, in particular the Japanese yen along with sovereign bonds.
As a matter of fact, Nikkei futures slumped by 0.9%, while E-Mini futures for the S&P 500 headed south by nearly 0.75%.
As for treasury futures, they gained due to speculation that a trade conflict would cloud global surge, thus keeping key major financial institutions accommodative.
China and America found themselves at a deadlock over trade talks on Sunday because the US government demanded pledges of concrete changes to Chinese law, while the Chinese cabinet told it wouldn’t tolerate anything harming its interest.
The trade conflict between the world's top two leading economies escalated on Friday, with America raising levies on $200 billion worth of China’s products American leader told that the Chinese government dared to break the deal by simply reneging on earlier commitments.
The head of global macro strategy at TD Securities, Michael Hanson told that there’s a huge probability that all Chinese goods would be subject to levies already in June.
In fact, the market reaction will solely depend on whether America and China keep negotiation their trade issues, whether the remaining $325 billion of American imports from China also get tariffed, how the Asian country respond, and also what happens to the 232 auto levies.
Under that scenario, the renminbi will probably slump 5%-6% versus the evergreen buck in the nearer months.
As for other key currencies were relatively calm, with the safe-haven Japanese yen still backed, although not aggressively so. The evergreen buck was worth 109.73 yen, which is above a 14-week minimum of 109.46.
The common currency was intact, sticking with $1.1235.
On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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