China to penalize $60 billion of U.S. imports in tit-for-tat move

hina and the United States plunged deeper into a trade war on Tuesday after Beijing added $60 billion of U.S. products to its import tariff list in retaliation for President Donald Trump’s planned levies on $200 billion worth of Chinese goods. Read More @ https://www.reuters.com/article/us-usa-trade-china-response/china-to-penalize-60-billion-of-u-s-imports-in-tit-for-tat-move-idUSKCN1LY22V?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

Wall Street bounces back as investors shrug off trade tensions

Wall Street rebounded on Tuesday in a broad-based rally as investors brushed aside intensifying trade rhetoric between the United States and China.  Late Monday, U.S. President Donald Trump announced that 10 percent tariffs on $200 billion in imports from China would go into effect next week, escalating the tit-for-tat trade spat between the world’s two largest economies. China responded on Tuesday by unveiling 10 percent tariffs on about $60 billion of U.S. goods effective Sept. 24. Read More @ https://www.reuters.com/article/us-usa-stocks/wall-street-bounces-back-as-investors-shrug-off-trade-tensions-idUSKCN1LY1R9?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

China says Trump forces its hand, will retaliate against new U.S. tariffs

The Chinese commerce ministry’s statement came hours after Trump said he was imposing 10 percent tariffs on about $200 billion worth of imports from China, and threatened duties on about $267 billion more if China retaliated against the U.S. action. The brief statement gave no details on China’s plans, but Foreign Ministry spokesman Geng Shuang told a news briefing later that the U.S. steps have brought “new uncertainty” to talks between the two countries. “China has always emphasized that the only correct way to resolve the China-U.S. trade issue is via talks and consultations held on an equal, sincere and mutually respectful basis. But at this time, everything the United States does not give the impression of sincerity or goodwill,” he added. Read More @ https://www.reuters.com/article/us-usa-trade-china-tariffs/china-says-trump-forces-its-hand-will-retaliate-against-new-u-s-tariffs-idUSKCN1LX2M3

WHAT IS THE USD SAYING?

USD needs fresh news and awaiting – we see USD still at the tipping point for a FALL rather then upward movement. More volatility expected over the weekend.

WEDNESDAY NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES

  1. Tentative – BOJ will release their monetary policy today expected to be no change – volatility expected in favor of the JPY.
  2. Tentative – BOJ Press Conference – more volatility expected.
  3. 4.00pm – EURO Current account – expected to be in favor for EURO.
  4. 4.30pm – UK will release their CPI and is expected to be in favor for GBP – good volatility expected.
  5. 8.30pm – US will release Current account and is expected to below expectation – we maintain SELL for USD.
  6. 9.00pm – Mario Draghi will speak – EURO volatility is expected – we move from SELL to BUY EURO.
  7. 10.30pm – Crude Oil Inventories – We maintain BUY.

The market is nervous with China & US Trade War and it will roll over to ASIA market and financial market as a whole; the market can move any direction and we will continue to be cautious and maintain good and prudent money management.

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.

1 Comment
  1. storno brzinol 1 month ago

    Good write-up, I am regular visitor of one¦s blog, maintain up the nice operate, and It is going to be a regular visitor for a lengthy time.

Leave a reply

Your email address will not be published. Required fields are marked *

*

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sending

FINWAZE makes no representations or warranties, express or implied, in relation to this website (www.finwaze.com) or the information and materials provided on this website. It does not also warrants that this website will be constantly available or available at all times. The information on this website is complete, true, accurate or non-misleading. Nothing on this website constitutes, or is meant to constitute, advice of any kind. FINWAZE shall not be liable for any damage or injury, whether direct or indirect, that it may cause in relation to the contents of, or use of, or otherwise in connection with this website. By using this website, you agree to the reasonableness of the limitations of liabilities herein set out and further agree to assume whatever risk, loss, damage or injury in may cause in connection to the use of this website. No claims shall be brought personally against the officers and employees of FINWAZE, in connection with the use of this website. The user of this website agree to the limitations of warranties and liabilities herein set out to protect the officers, employees, agents, subsidiaries, successors, assigns and sub-contractors as well as FINWAZE. Any unenforceable provisions that may be found on this website under applicable law shall not affect the enforceability of the other provisions.

Legal Documents  |  ©2021 Finwaze Philippines

Pin It on Pinterest

Share This

Log in with your credentials

Forgot your details?