China Commerce Ministry spokesman speaking in regards to US tariff threats – US tariffs is firing at the rest of the world and itself – Protectionism poses challenge to global trade And more blah blah along those lines.
I hope everyone who celebrated July 4 had a fantastic holiday – but now, its the next day – back into it! Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:
More stimulus is needed ahead of the sales tax hike (8% currently, going to 10%) planned for October 2019 So says Susumu Takahashi is chairman of the Japan Research Institute and an economic adviser to the government
U.S. Secretary of State Mike Pompeo will be North Korea on Friday and Saturday Reuters report: Got that? … Kim calling the shots. CVID or denuclearisation …. not gonna happen, K?
Cross selling coming in against the yen, AUD, NZD, CAD all down a few tics (not a lot at all) EUR is hanging in there, though it found resistance ahead of 129 for EUR/JPY
Goldman Sachs with their latest on commodities – oil market to remain in deficit through the rest of the year – maintains overweight rating for commodities – Sees China policy easings as supporting metals demand via Bloomberg
National Australia Bank cite easing Chinese demand for their forecast of Iron ore to $60 (comes via Bloomberg) Earlier this week I had seen Morgan Stanley’s forecasts:
ANZ’s latest look at developments leads with a not very pretty: (bolding mine) Yep. the time to chill out on this escalating trade war is not now, K? Gonna get worse before it gets better – Merkel is on to something:
Jaguar Land Rover Chief Executive Ralf Speth spoke in an interview given to the Financial Times. with this: Reuters Is anyone even mildly surprised by this? Apart from the knuckleheads happy with no deal that is.
Says the Economic Information Daily in China this morning, headline via Bloomberg No further details at this stage Eco Info is a state owned outlet, the comments fits with the jawboning we have seen from the PBOC and also the intervention we had on Tuesday. China happy with the yuan devaluing, but not too fast…