Trump warns he may freeze SKorea trade deal for NKorea talks
President Donald Trump on Thursday threatened to hold up the trade agreement his administration finalized this week with South Korea in an effort to gain more leverage in potential talks with North Korea. Speaking on infrastructure in Ohio, Trump highlighted the recently completed renegotiation of the Korea-U.S. free trade agreement. But he warned: “I may hold it up until after a deal is made with North Korea.” The announcement comes as the two Koreas have announced plans to hold bilateral meetings next month in advance of a possible meeting between Trump and North Korea’s Kim Jong Un by the end of May. Read More @ https://apnews.com/14ddb60d53c3476c925bc82ea7c3597a/Trump-warns-he-may-freeze-SKorea-trade-deal-for-NKorea-talks?utm_campaign=SocialFlow&utm_source=Twitter&utm_medium=APBusiness
Trade Deals Take Years. Trump Wants to Remake Them in Months. Maybe he could by first crashing the USD.
Trade pacts typically require years of detailed negotiations. The North American Free Trade Agreement needed two years. Creation of the World Trade Organization took eight. The Trump administration wants to remake global trade in a matter of months. To secure agreements quickly, the White House has taken a contentious approach to negotiations not seen in decades, threatening allies and adversaries alike with harsh sanctions like tariffs and quotas. Those tactics have returned a few early concessions from trading partners, including South Korea, whose revised trade agreement was formally announced by the United States on Wednesday. But it remains to be seen how much American workers would benefit from these deals and whether the global trading system can sustain the chaos. Read More @ https://www.nytimes.com/2018/03/28/business/trump-china-world-trade.html?partner=rss&emc=rss
Barclays agrees to pay $2 billion penalty for selling fraud securities made up of bad home loans – Trust the Banks? think again~!!
Barclays Capital and some of its affiliates have agreed to pay a $2 billion fine for improperly selling securities backed by home mortgages, the Justice Department said Thursday. The feds will now drop a December 2016 civil action that accused the bank of fraudulently selling residential mortgage-backed securities (RMBS) between 2005 and 2007. Barclays was accused of misrepresenting some details on $31 billion worth of loans involved in 36 RMBS deals over that time. More than half of those mortgages later defaulted, leaving investors financially ruined, the Justice Department said. Read More @ http://www.nydailynews.com/news/national/barclays-agrees-pay-2b-selling-bad-home-loan-securities-article-1.3903095
WHAT IS THE USD INDEX SAYING?
The USD is hanging at below $90; this weekend will decide where it goes. We believe it will take a catalyst to break the $90. We remain cautious with the USD. We maintain SELL.
TODAYS’ NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES
- 7.30am – Japan CPI is disappointing and JPY looking for next move – We maintain BUY for JPY.
- 2.45pm – France will release CPI and Consumer Spending – expected to be good. We maintain BUY for EURO.
- 5.00pm – Italy will release their PI and is expected to be no change.
- Saturday – 9am – China will release Manufacturing data – which is expected to be good. We maintain BUY for CNY.
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