|Day's range||6,149.10 - 6,185.00|
|52-week range||5,639.40 - 6,373.50|
The mild response by investors to the new tariffs suggests investors may be waiting to see which industries China decides to target in its retaliation. Again, the thought is, why sell the whole market when only a few sectors, industries or stocks may be negatively affected by China’s retaliatory efforts. The Australian Dollar is trading higher early Tuesday, bucking the negative tone set earlier in the session by new tariffs on China by the U.S. and relatively tame Reserve Bank of Australia monetary policy meeting minutes.
Another set of tariffs on China supporting the U.S Dollar early on, with the RBA meeting minutes failing to give the Aussie Dollar a boost.
Economic data could take a back seat through the day, the markets more eager to see whether there is a green light for U.S – China trade talks.
Economic data out of China was better than expected this morning, supporting improved risk appetite, with focus to shift to U.S retail sales and the USD.
Monetary policy to drive the EUR and the GBP this afternoon, with inflation figures to hit the USD, while Brexit, NAFTA and Trump will also be a factor.
Asian equities are on the slide again, with economic data providing little support, as the markets continue to fret over rising trade tensions.
A mixed start to the day on the data front, leaves the markets to look ahead to employment numbers out of the UK, the Pound find strong Brexit support.
With trade data out of China adding to already existing trade tensions, focus shifts to the Pound, with heavy set of stats and Brexit chatter in focus.
According to reports, President Trump told a columnist for The Wall Street Journal that he will take his trade fights to Japan next. On Thursday, The Wall Street Journal’s James Freeman wrote about a phone call he received from the president, in which Trump “described his good relations with Japanese leadership but then added: “Of course that will end as soon as I tell them how much they have to pay.’”
While the Aussie Dollar continues to get hit in spite of better than expected stats through the week, focus will be on trade and U.S stats later today.
The pressure on the global stock markets may only grow in the near future as emerging markets sale-off continues to weigh on financial markets.
It’s all about trade and, with Trump’s 6th September deadline likely to end with more tariffs on China, NAFTA remains the market’s lifeline.
Trade war jitters continue to weigh on risk sentiment, with focus through the day being on the BoC and trade war chatter.
The Aussie Dollar was saved from heavy losses by the RBA, with trade talk to continue to be the area of focus through the day.
Economic data out of China and Japan reflected the effects of the ongoing trade war, with focus now on the U.S and Canada, the NAFTA deadline today.
Business confidence and building consents pin back the Kiwi Dollar, with focus now shifting to the U.S and Canada, the markets in search of a conclusion.
Asian markets find support from the overnight gains in the U.S, with U.S GDP numbers and trade chatter to drive the markets through the day.
A light day on the economic calendar leave the Dollar in the hands of the Oval Office, with the U.S equity markets poised for fresh record highs later today.
There’s plenty for the markets to consider for the day ahead, with FED Chair Powell and the Oval Office the key areas of focus through the day.
The Dollar makes an early move, with private sector PMI numbers, the ECB minutes and Trump in focus through the day.
The battle for control over the Dollar continues today, with the FOMC meeting minutes due out in the wake of Trump’s latest attacks on policy.
Trump had the markets guessing again and more surprises are likely to be on the horizon, as the markets prepare for tomorrow’s trade talks.
A lack of data through the day will leave the markets focused on geo-political risk, a number of risks providing food for thought at the start of the week.
While inflation numbers are due out of the Eurozone and Canada, it’s all eyes on the U.S Dollar, with the markets getting ready for U.S – China trade talks.