Trade war could start today as tariffs come into play!

in esteem •  9 months ago

Hello Steemians!

Wall Street climbs ahead of tariffs: Markets in the US were on the rise yesterday, as the Dow Jones, Nasdaq and S&P 500 all closed higher. Tariffs on Chinese imports are supposed to take effect today, potentially weighing on the market and creating fears of a US-China trade war.

ceu81ktnzq.jpg

Employment data to impact markets: The monthly NFP report is scheduled for release in the US at 12:30 GMT, alongside the Hourly Earnings and Unemployment Rate reports. The job data could potentially impact the USD and other key financial instruments in the US.

Asia seen higher: Markets in the East were trading higher this mornings, as at the time of writing, the Nikkei leaped more than 1.2%, the China50 was up more than 1.8% and the Hang Seng was up nearly 0.9%. China will also be introducing import tariffs on US goods today, potentially generating market volatility in Asia.

Slight losses in crypto markets: The seesaw in crypto markets continued over the past 24 hours, as all top 10 cryptos registered moderate losses. At the time of writing, Bitcoin was down less than 1%, holding above the $6,600 mark.

Volatility expected for CAD: The Trade Balance report is due in Canada at 12:30 GMT, alongside the Employment Change and Unemployment Rate reports. The data released could potentially impact the CAD.

Xiaomi to go public on Sunday: Chinese tech giant Xiaomi, which is the 4th-largest smartphone manufacturer in the world, will be holding an IPO on Sunday on the Stock Exchange of Hong Kong, potentially reaching a market cap of up to $100 billion. Xiaomi stocks will be made available, for long, non-leveraged CFD positions on eToro soon after the IPO.

Europe opens higher: The FTSE opened 34 points higher, the DAX was up 49 points and the CAC opened 28 points higher.

Thank you for reading! Steem on!

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!