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Today's Market Fundamentals
The madness continues, the day started with China announcing that they would be putting the purchases of soy beans on hold as the trade war intensifies, the Chinese have been vocal this week and it is clear that they are ready for a fight. Donald Trump responded by telling the US people that negotiations with China are doing well and that the Chinese want a deal – the two leaders are to meet at the G20. It is reported that the US have the ability to double tariffs on China, call me naïve but I am not sure that the two countries are on the same planet – never mind the same page – when it comes to negotiations.
The “Tariff Man” was at it again late last night when he slapped 5% tariffs on all goods from Mexico, which will increase to 25% by October. His trade war has just gone global and global currencies will start to sell off on the fear of contagion. One is starting to get the feeling that Trump is pushing a little too far and clearly does not really understand simple supply and demand, I wonder how this will affect his chances in next year’s election.
While we are on Mexico – Donald Trump has an announcement on the southern border today too!
Today's Market Trading Levels
1. DE30 BUY 11820 – 11800
2. USTECH BUY 7200 – 7175
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