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Asian markets remain tense over trade war fears

March 26, 2018

 

europe market movements

Europe Market Movements

Event wise we are at the start of a quiet week, with no major market movers due for release in the USA, the UK or the EU but developments in the global trade war, could trigger volatility. European markets in the form of the FTSE 100, the French CAC 40 and the German DAX are all set to open lower this morning, with investors worried about trade tariffs. For the time being though, no trade tariffs have been imposed on Europe by the USA.

 

US Indicators

US Market Movements

US tariffs on Chinese imports have been announced by Donald Trump but according to reports, the US is having “very productive” discussions with China, on fair trade. Should the trade war be averted, the currency markets will surely react. Facebook founder Mark Zuckerberg has apologized for a “breach of trust” as a result of the ongoing data privacy scandal and FB shares have fallen by 14% over the past week.

 

 

Asian indicators

Asia/Oceania Market Movements

Markets have been trading lower today as fears of a trade war have not entirely subsided. The Australian ASX 200 was down today, as was the Nikkei 225 and the Shanghai Composite SHCOMP, but Taiwan’s Taiex was up as is the JPY which is trading slightly higher against the USD.

 

 

commodities

Commodities

This morning, the Shanghai International Energy Exchange started trading crude contracts. The Chinese giant is offering yuan-denominated crude futures. Can we expect the traditional London based Brent Futures and the American WTI to face a serious challenger? Traders, keep this on your radar.

 

 

Today’s Events

08:30 GMT GBP: Gross Mortgage Approvals
20:30 GMT USD: FOMC member speech
00:45 GMT+1 AUD: RBA Assistant Governor speech

 

For a complete list of today’s economic calendar click here

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2 Comments

  1. April 5, 2018 at 11:39 am — Reply

    A low key start up is entirely in order when it comes to setting out an alternative to the petrodollar. Beijing is entirely sane in simply commencing its strategy. Bear in mind the last world leader who made a similar announcement was promptly bayoneted through his anus and then strung up. All within 12 months of his announcement to back crude purchases with gold or the Libyan dinar. Such is the nature of hegemony. A more subtle shift is therefor indicated. Any sane risk analysis will factor in both the Chinese plan to go fast for electric vehicles thereby displacing one major dependency on crude in the near term. If the rest of the world is incapable of adopting such a strategy of exiting crude dependency then the slightly longer future (one century) will bring catastrophic demise of most first world economies and populations. Crude dependency will then be meaningless as will be the petrodollar. Regardless of any of that, reducing one”s economic dependency on the yankees is a very sane concept.

  2. March 26, 2018 at 9:20 pm — Reply

    Thanks Anton, I’ll check them out.http://viagraqoid.com/

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