Bring it, Xi says The WSJ reports that Chinese President Xi Jinping is ready to take a bareknuckle approach to the trade war. “Mr. Xi told a group of 20 mostly American and European multinational chief executives on Thursday that Beijing plans to strike back, according to people briefed on the
Closing changes for the main bourses: Rough day all around with the DAX, CAC and FTSE all falling to the lowest since April. Here’s a look at the DAX:
S&P 500 down 40 points The S&P 500 is down 1.5% in a 40 point fall in the S&P 500 to 2713. The Nasdaq is down 2.1% as Netflix plunges. Mnuchin tried to save the day with a tweet but after a small bump, it’s been a quick slide to the lows.
Mnuchin takes aim at stories on technology Risk positive. The thing is, he’s still not exactly denying it. If the policy is global but only really effects China, then what’s the difference?
Trade wars …. or is it just follow through after a weak day on US stocks? Or both? My vote is a bit of both. Where we at …. – Nikkei 225 is down 0.5% or so Meanwhile, USD/JY has given back all its gains from earlier:
Bloomberg TV interview with Goldman Sachs Asset Management International Chief Executive Officer Sheila Patel – Mixed messages about what will or won’t happen regarding protectionist measures
Earlier (late NY time) USD/JPY gained on comments from White House trade adviser Navarro on CNBC backpedalling on his bosses trade threats Since the surge USD/JPY has subsided and under 109.60 its given back nearly of the gain
Just scanning a few of the morning commentaries, which reiterate the risks facing the Australian dollar Pretty dire reading … Westpac: CBA:
The weekly measure of consumer sentiment in Australia Not a market mover upon release
Chicago Mercantile Exchange Performance Bond Requirements: Energy Margins – Effective June 26, 2018 CME raises NYMEX crude oil future margins – for August to USD2750 per contract from USD2550