After President Trump suggested increasing the tariffs on $200 billion worth of Chinese goods from 10% to 25% last week, on Friday China announced more fees on American goods. Moreover, Chinese state-owned media began attacking Trump personally, suggesting that the current animosity coming from the United States stems from his poor decisions, rather than the entire American government.
Trade worries affect the international financial markets heavily, which is why it comes as no surprise that currently stocks are suffering worldwide. These include Asian, European, and American stock markets.
Data from Europe continues to prove lukewarm or straight-out disappointing, with reports lagging behind forecasts, causing the euro to depreciate against other currencies. The USD, on the other hand, continues strong.
Today we also expect an announcement from the United States regarding sanctions on Iranian oil exports.
