Chinese commerce ministry out on the wires again 4 April – initiated WTO dispute procedure against US 301 tariffs investigation USDJPY looking at 106.00 again with GBPJPY now down through 149.00 and pushing GBPUSD down to 24 hour lows of 1.4036 with EURGBP up testing 0.8750 again. Just another reminder that hedge funds love hitting…
German economic ministry spokesman out on the wires 4 April – we must engage in dialogue on trade to avoid escalation in trade barriers Lest we forget the trade tariff issues are not simply confined to US vs China.
A statement by China’s finance ministry confirming what the state media reported earlier US equity futures tumbling further on the day – S&P 500 futures now down 0.85% on the day, while yen pairs are also falling across the board. USD/JPY now to lows of 106.22 on the day. Meanwhile, the aussie is also being…
Reports are emerging on China’s retaliatory measures There’s your bit of headline risk. Yen pairs sent lower, with USD/JPY now at 106.31 to session lows. The headlines are via China’s CCTV. We are still awaiting the briefing later at 0830 GMT by China’s government officials – which are more than likely to confirm the above.
S&P 500 futures fall to the lowest point in the day Some jitters in the market ahead of the retaliatory measures by China that is set to be announced during a briefing later at 0830 GMT.
Further comments by China’s foreign ministry spokesman Geng Shuang Judging by how bold the recent comments are, it is highly likely that we will see a set of retaliatory measures come out later on in the at 0830 GMT.
The ECB meets again later this month on 26 April But it’s clear that they will continue to communicate or at least continue to hint at exiting QE when the time comes.
China’s finance ministry with some comments The measures announced can be found . here China surely choosing to hit where it hurts most – agriculture (soybeans in particular) and aircrafts. The dollar is on the backfoot following the announcement, but commodity currencies are suffering the brunt of it – as markets turn risk-off.
Some comments by Zhu Guangyao as he speaks in a briefing noted earlier on US-China trade relations Pretty much formality/political comments. The finance ministry has earlier confirmed the trade measures , so that’s the more important area of focus for markets right now. We’re also hearing vice commerce minister Wang Shouwen:
That no market is immune to a trade war or its spillover effects Equity futures were a little jittery but commodity currencies held up rather well and safe haven currencies were showing no interest. It sure was puzzling. That is until the retaliatory measures by China were .