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US Hikes Tariffs on Chinese Goods in the Midst of Talks


Today, the US officially raised the tariff rate on USD 200bn of Chinese goods, in the midst of trade negotiations between the two sides. The market reaction was subdued, with investors perhaps eager to find out whether the talks will yield anything positive today. Yesterday, the Norges Bank kept its forward guidance unchanged and added that the next rate increase is likely to happen in June. As for the economic data, today’s agenda includes the 1st estimate of the UK GDP for Q1, the US CPIs for April and Canada’s employment report for the same month.

Investors Stay in Risk-averse Mode Amid Trade Uncertainty

The dollar was found lower against most of the other G10 currencies during the early European morning today. It gained only against SEK, while it traded virtually unchanged against GBP and NOK. The main gainers were CHF, NZD and EUR in that order.

Although not clear in the FX world, investors’ morale remained subdued during the EU and the US trading sessions and this was evident by the performance in equity markets, where...

Read the full financial markets daily report on JFD Research.

JFD Review

Source: https://www.jfdbank.com/en/research/us-hikes-tariffs-on-chinese-goods-in-the-midst-of-talks-20190510
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