Markets feared Trump would light the fuse on a trade war, and maybe he just did

  • Stocks sold off sharply and investors moved into the safety of bonds, after President Donald Trump said he would put tariffs on imports of steel and aluminum.
  • Analysts said the tariffs were not in themselves signs of a ‘trade war’ but could be a catalyst to spur one if other countries around the world retaliated.
  • The tariffs could create inflation as industries pay more for products made with steel or aluminum and pass the costs to consumers. Read More @ https://www.cnbc.com/2018/03/01/markets-feared-trump-would-light-the-fuse-on-a-trade-war-and-maybe-he-just-did.html

Trump’s tariffs ‘like a first shot in a war’: Nobel-winning economist Robert Shiller

ANOTHER NIGHTMARE IN THE MAKING

Trump Trade Skirmishes Gain Momentum With Threat to Tax EU Cars –

Donald Trump set the stage for a trade war by slapping tariffs on steel and aluminum imports, daring other countries to retaliate and leading the European Union to warn that it would target iconic American brands. In turn, the U.S. president put the European auto industry in his sights.

Hours after Trump said in a Twitter message that “trade wars are good, and easy to win,” European Commission President Jean-Claude Juncker said the bloc was prepared to respond forcefully by targeting imports of Harley-Davidson Inc. motorbikes, Levi Strauss & Co. jeans and bourbon whiskey from the U.S.

Juncker’s threat heightened the prospects of a global free-for-all, as the World Trade Organization said the potential of escalating tensions “is real” and the International Monetary Fund warned the restrictions would likely damage the U.S. and global economy. Read more @ https://www.bloombergquint.com/global-economics/2018/03/02/trump-opens-door-to-trade-war-as-eu-threatens-iconic-u-s-brands

These Could Be the Euro’s Five Most Important Days This Year

What to Watch:

  • On Monday, March 5, EU Council President Donald Tusk may circulate draft negotiating guidelines about the future relationship between the EU and the U.K.
  • U.S. President Donald Trump meets Swedish Prime Minister Stefan Lofven at the White House the next day
  • Reserve Bank of Australia expected to leave policy unchanged, Governor Philip Lowe gives a speech in Sydney on March 7; other policy makers to speak next week include Bank of Canada Deputy Governor Timothy Lane, Chicago Fed President Charles Evans, New York Fed President William Dudley
  • Nafta trade talks continue, through March 6
  • Euro-area GDP; U.S. payrolls, durable goods, factory orders, unit labor costs; U.K. services PMI; see data calendar – Read More @ https://www.bloombergquint.com/onweb/2018/03/02/these-could-be-the-euro-s-five-most-important-days-this-year

TECHNICAL CHARTS OF USD INDEX AND EUR INDEX

NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADING.

  1. 8.30am – Australia Building approvals – we are expecting the data to be good. We maintain BUY for a PULLBACK.
  2. 9.45am – CAIXIN SERVICES PMI – we are expecting the data to be good. Keep your eyes open at CAD, NZD & AUD – We maintain BUY for a PULLBACK.
  3. 4.15 – 5.00pm – Spanish, Italian, French and German Services PMI will be released we are expecting the data to be good – we maintain BUY for EURO PAIRS.
  4. 5.30pm – EURO sentix Investor confidence data – we are expecting neutral.
  5. 5.30pm – be ready for GBP volatility with UK Services PMI – We maintain BUY for GBP.
  6. 6.00pm – EURO Retails sales – expected to be good.
  7. 10.45pm – US Final Services PMI – we expect no change and maintain SELL for USD.
  8. 11.00pm – The night will end with US ISM Non Mfg PMI – no change.
 Be mindful there is Italian Parliamentary election results – euro volatility is expected tandem with TRUMP CAR Tariffs – the mess is just the beginning for USD & EURO – but we are in favor of EURO.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary

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