Trump’s Latest Tariff Strategy: Less Trade War, and More Let’s Make a Deal

The president also said that other countries would be invited to negotiate with U.S. Trade Representative Robert Lighthizer if they wanted to make special deals of their own to avoid the tariffs. This raises the possibility that allies like South Korea and the European Union could avoid the tariffs by making sufficient concessions.

“That’s the part of this that feels like an extortion racket,” said Phil Levy, senior fellow at the Chicago Council on Global Affairs, who worked on trade issues for the George W. Bush administration. “Nice little steel industry you have there; would be a shame if something happened to it.” Read More @ https://www.nytimes.com/2018/03/08/upshot/trumps-latest-tariff-strategy-less-trade-war-and-more-lets-make-a-deal.html?partner=rss&emc=rss

11 Countries Sign Pacific Trade Deal as President Trump Announces Tariffs

Trade ministers from 11 Pacific Rim countries signed a sweeping free trade agreement Thursday to streamline trade and slash tariffs just hours before President Donald Trump announced his plans to impose new tariffs on aluminum and steel to protect U.S. producers.

Trump withdrew the U.S. from the Trans-Pacific Partnership last year, causing fears that it would not prosper without its most influential country. But the remaining 11 members pressed ahead, saying they were showing resolve against protectionism through global trade. Read More @ http://time.com/5192222/pacific-trade-deal-steel-tariffs-donald-trump/

Draghi’s Guidance Change Comes at an Awkward Time (We still Buy for EURO)

The European Central Bank president’s decision to drop a pledge to increase quantitative easing if needed shows confidence in the durability of euro-area growth. But it’s an unexpected gamble when U.S. President Donald Trump is threatening to start a trade war and indicators show the region’s expansion is coming off the boil. Draghi’s shift nevertheless acknowledges that the ECB’s emergency stimulus will have to end in the not-so-distant future.“It’s certainly a surprise,” said Oliver Rakau, an economist at Oxford Economics in Frankfurt. But Draghi’s remarks are also “an attempt not to get too carried away with risks and take a very tiny step on the road to normality.” Read More @ https://www.bloomberg.com//news/articles/2018-03-09/draghi-s-guidance-change-comes-at-awkward-time-as-threats-emerge

What is the Technical Chart Saying?

USD have survived the fall after President Donald Trump soften his stand on Tariffs and prepared to negotiate. Today NFP will decide the USD – we trade after the news and not before to avoid surprises.

TODAYS’ NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 8.00am – Japanese average earnings has improved but surprisingly the JPY weakens against the USD due to softening of President Donald Trump soft stand on tariff now.
  2. 9.30am – China CPI jumped to all time high of 2.9% – this is also could be due to Chinese New Year. Market didn’t move that much as today is NFP day.
  3. Tentative – BOJ will release Press conference today – expected to be hawkish – we maintain BUY for JPY.
  4. 3.00pm – German Trade Balance – we are expecting a good data – we maintain BUY for EURO (be cautious as there is NFP data tonight)
  5. 5.30pm – Keep your eyes on Consumer inflation from UK – expected to be good – BREXIT is stopping GBP to go any higher. GDP NIESR tentative announcement today – will give volatility for GBP Pairs.
  6. 9.30pm – US NFP data releases – we are expecting more then 200k employment. USD is expected to rally – but we will trade only after the news. We will focus on EURO & JPY both of which is a BUY for us. Keep your eyes on Average earnings expected to be lower then last month.
  7. 11.00pm – Final Wholesale inventory – we are expecting a good data. The market will be in favor for the USD tonight.

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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