{"id":25674,"date":"2018-03-23T12:31:17","date_gmt":"2018-03-23T07:01:17","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=25674"},"modified":"2018-03-23T12:32:35","modified_gmt":"2018-03-23T07:02:35","slug":"friday-23rd-march-trumps-china-tariffs-wreak-havoc-in-the-markets","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/friday-23rd-march-trumps-china-tariffs-wreak-havoc-in-the-markets\/","title":{"rendered":"Friday 23rd March: Trump&#8217;s China tariffs wreak havoc in the markets"},"content":{"rendered":"<h4>\n\t<span style=\"font-size:14px;\"><strong>Global Markets:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian Stock Markets : Nikkei down 4.66%, Shanghai Composite down 3.48%, Hang Seng down 3.16%, ASX down 1.96%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1342.70 (+1.15%), Silver at $16.56 (+1.06%), WTI Oil at $69.54 (+0.91%), Brent Oil at $65.03 (+1.14%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.808, UK 10-year yield at 1.434, Germany 10-year yield at 0.531<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>News &amp; Data:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Unemployment Claims 229K vs 225K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) MPC Asset Purchase Facility Votes 0-0-9 vs 0-0-9 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Asset Purchase Facility 435B vs 435B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Official Bank Rate 0.50% vs 0.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) MPC Official Bank Rate Votes 2-0-7 vs 0-0-9 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Retail Sales m\/m 0.80% vs 0.40% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German Ifo Business Climate 114.7 vs 114.7 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Flash Services PMI 55 vs 56 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Flash Manufacturing PMI 56.6 vs 58.1 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German Flash Services PMI 54.2 vs 55 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German Flash Manufacturing PMI 58.4 vs 59.8 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) French Flash Services PMI 56.8 vs 57 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) French Flash Manufacturing PMI 53.6 vs 55.6 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">US Government approves $1.3 Trln funding bill to avert shutdown<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Japanese firms see no BOJ tightening until 2019 or beyond 2020: poll<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong style=\"font-size: 14px;\">Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Asian markets deeply in the red, following cues from the Wall Street, where stocks tumbled after President Trump imposed tariffs on China, thereby reigniting fears of a trade war. Gold, yen and bonds have all gained from the flight to safety that ensued.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Nikkei&rsquo;s export sectors under pressure, unsurprising given yen&rsquo;s advance and US and China comprising Japan&rsquo;s largest export markets. Trump administration confirmed countries it will exempt from steel and aluminum tariffs, though Japan not one. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Australia on the exclusion list, though it would still be subject to import quotas and relief is said to be temporary. As expected Chinese equities are on a sell-off.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Trump signed a presidential memorandum on Thursday that could impose tariffs on up to $60 billion of imports from China, although they have a 30-day consultation period, raising the chance that final measures could be watered down. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Investors fear that the U.S. measures could escalate into a trade war, with potentially dire consequences for the global economy. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">China published its own list of American goods it is prepared to impose tariffs on. The Chinese Commerce Ministry also said it would take action against US under World Trade Organization framework, while its embassy vowed to &lsquo;fight to the end&#39; in any trade war.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">12:10 PM GMT &#8211; (USD) FOMC Member Bostic Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (CAD) CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (CAD) Core Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (CAD) Common CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (CAD) Median CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (CAD) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (CAD) Trimmed CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (GBP) MPC Member Vlieghe Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (USD) Core Durable Goods Orders m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (USD) Durable Goods Orders m\/m<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 4.66%, Shanghai Composite down 3.48%, Hang Seng down 3.16%, ASX down 1.96% Commodities : Gold at $1342.70 (+1.15%), Silver at $16.56 (+1.06%), WTI Oil at $69.54 (+0.91%), Brent Oil at $65.03 (+1.14%) Rates : US 10-year yield at 2.808, UK 10-year yield at 1.434, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/friday-23rd-march-trumps-china-tariffs-wreak-havoc-in-the-markets\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 23rd March: Trump&#8217;s China tariffs wreak havoc in the markets<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":25671,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=25674"}],"version-history":[{"count":3,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25674\/revisions"}],"predecessor-version":[{"id":25677,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25674\/revisions\/25677"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/25671"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=25674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=25674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=25674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}