Asian markets close mixed ahead of US tariff news; euro on the back foot

Trade was back from the spotlight, with the White House supposed to unveil a revised list of between 800 in addition to 900 products by China the item will impose tariffs on, sources told CNBC.

Meanwhile, U.S. President Donald Trump can be supposed to announce “pretty significant action” in tariffs on Chinese goods worth $50 billion, Reuters reported. China has pledged a swift response if the latter proceeded with rolling out threatened tariffs.

“There’s going to be a reaction, the item’s almost inevitable … We’re going to see a slowdown in global economic growth in addition to trade as a result of in which, in which’s inevitable,” Uwe Parpart, chief strategist at Capital Link International, told CNBC’s “Capital Connection.”

“Growth, at This kind of point, can be not going to reach the levels in which had been expected earlier This kind of year,” he added.

On Thursday, the European Central Bank indicated plans to wind down its quantitative easing program. The ECB said its current 30 billion euros in monthly purchases could be halved from the last quarter of the year. In addition, the central bank indicated in which a rate hike could be unlikely before summer 2019.

“After recent almost hawkish remarks by ECB Chief Economist Praet, the market was hoping for more in addition to [was] disappointed,” David de Garis, director of economics at National Australia Bank, said in a note.

The euro was on the back foot on Friday. the item had tanked after the ECB outlined its QE plans, falling to trade at the $1.15 handle by levels above $1.18 seen before the central bank’s announcement. The common currency traded at $1.1563 at 2:45 p.m. HK/SIN.

The dollar, meanwhile, held onto broad gains against various other currencies made overnight, with the dollar index last at 94.974. Against the yen, the greenback was mostly steady at 110.72.

Also on central bank watch, the Bank of Japan on Friday said the item could maintain its monetary policy, which was in line with market expectations. The central bank also downgraded its inflation views.

in which rounded up a week in which had been full of central bank meetings, with the Federal Reserve on Wednesday signaling in which two more rate hikes, rather than one, were likely by the end of This kind of year.

“Major central banks [are] slowly taking away the punch bowls nevertheless the item’s very gradual in addition to there can be still lots of punch around,” Shane Oliver, head of investment strategy at AMP Capital, said in a note.

The gains in Asian markets also came on the back of U.S. stocks advancing on Thursday amid a flurry of dealmaking news, with the Nasdaq composite rising 0.85 percent to notch a record close of 7,761.04.

On the energy front, Brent crude futures were little changed at $75.92 per barrel amid the stronger dollar. U.S. West Texas intermediate crude added 0.07 percent to trade at $66.94.

Leave a Reply

Your email address will not be published. Required fields are marked *


1 + seventeen =