We avoided Armageddon but there's still a meteor comingChina reaffirms to continue taking resolute countermeasures to safeguard its interestsChina says its position on trade is clear and consistentWill China retaliate against Trump's 125% tariffs?WH Hassett: The bond market may have contributed to the tariff decisionEU agrees to pause countermeasures against US tariffs for 90 daysGold continues to shine as the tariffs war now centers around US and ChinaStrong turnaround in interest rates expectations following Trump's tariffs pauseDollar pushed lower as markets digest Trump's tariffs pauseWhat is the distribution of forecasts for the US CPI?
Markets:
CHF leads, USD lags on the dayEuropean equities higher; S&P 500 futures down 1.6%US 10-year yields down 2.6 bps to 4.304%Gold up 1.3% to $3,120.73WTI crude down 2.7% to $60.67Bitcoin down 1.5% to $81,896China at least refrained from escalating things on the tariffs front, for the time being. Still, this chart is not a pretty one involving the two biggest economies in the world:
So, there's some food for thought for markets in trying to decipher the potential repercussions this is all going to have on the global economy.
10-year yields in the US are keeping calmer, holding near 4.30% with 30-year yields sitting around 4.75% on the day. There's still the 30-year bond auction coming up later, so watch out for that as well.
It's now a question of how optimistic do market players really want to be up against a US-China trade war and tariffs as a whole dragging down the world economy. Adding to that, we're not even certain of the extent of the damage caused by the basis trade implosion. So, there's that to consider.
Even despite concerns with regards to China and the trade war, AUD/USD managed to pick itself up from 0.6150 to 0.6185 on the day currently - up 0.5%.
It is all shaping up to be another interesting and wild day in US trading later. So, brace yourselves.
This article was written by Justin Low at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( ForexLive European FX news wrap: Dollar struggles as markets digest Trump's tariffs pause )
Also on site :