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Today's Market Fundamentals
The break down in trade talks between the US and China has turned into a blame game with China stating that the US abusing domestic laws to sanction Chinese firms is the reason for this debacle. Whilst the Chinese believe that they have ample tools to cushion a trade war, the fact that they are still willing to continue trade talks with the US if they correct some of these wrongs suggests to me that their counter measures are not as strong as they suggest. The bottom line is that any trade war will put the entire world into an economic recession.
The US have responded that they are not concerned if a deal cannot be struck, and that Chinese surveillance firms are a risk to national security – this is a long way to go. Keep an eye on British politics with the Brexit saga staged to create some volatility later this afternoon.
Today's Market Trading Levels
1. Gold BUY 1278 – 1275
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