President Trump may be giving China an opportunity to be judge, jurry, and executioner in the case of the U.S. honoring its obligations. The Trump administration wants to have a system that would allow it to quickly punish any foot-dragging by Chinese officials by imposing tariffs or other sanctions without having to go through the World Trade Organization.
However, any reciprocal deal would give Chinese leaders another way to quickly apply their own pressure on American companies.
Data showing China’s economic growth, industrial production, and retail sales all topped estimates boosted equities around the world. The second largest economy’s show of might restored investors’ faith the world over. Beijing’s ability to keep the economy humming in the eyes of a feared slowdown was in large part due to stimulus package.
European debt dropped, while the Euro strengthened even as Germany’s economy ministry revised its growth forecast lower. The bloc’s strongest economy is experiencing a slow down. Caught between the trade war with the U.S. and an undecided Brexit the Euro zone has dealt with the consistent turmoil.
Times in GMT
AUD Employment Change (Mar)
Predicted: 12.0K Previous: 4.6K
EUR German Manufacturing PMI (Apr)
Predicted: 45.0 Previous: 44.1
GBP Retail Sales (MoM) (Mar)
Predicted: -0.3% Previous: 0.4%
USD Core Retail Sales (MoM) (Mar)
Predicted: 0.7% Previous: -0.4%
USD Philadelphia Fed Manufacturing Index (Apr)
Predicted: 10.4 Previous: 13.7
USD Retail Sales (MoM) (Mar)
Predicted: 0.9% Previous: -0.2%
CAD Core Retail Sales (MoM) (Feb)
Predicted: 0.2% Previous: 0.1%
Cable’s 1D chart has shown an Inverted Hammer signaling a potential reversal.
This index’s 1D chart has shown an Engulfing Bearish signal indicating a trend reversal.