{"id":25437,"date":"2018-03-08T12:10:46","date_gmt":"2018-03-08T06:40:46","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=25437"},"modified":"2018-04-16T12:48:46","modified_gmt":"2018-04-16T07:18:46","slug":"thursday-8th-march-mexico-canada-may-be-exempt-from-trade-tariffs","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/thursday-8th-march-mexico-canada-may-be-exempt-from-trade-tariffs\/","title":{"rendered":"Thursday 8th March: Mexico, Canada may be exempt from trade tariffs"},"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 up 0.55%, Shanghai Composite up 0.28%, Hang Seng up 1.37%, ASX up 0.69%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1328.30 (+0.05%), Silver at $16.530 (+0.22%), WTI Oil at $61.22 (+0.22%), Brent Oil at $64.39 (+0.08%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.879, UK 10-year yield at 1.501, German 10-year yield at 0.662<\/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;\">(CNY) Trade Balance 225B vs -70B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(AUD) Trade Balance 1.06B vs 0.21B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Crude Oil Inventories 2.4M vs 2.6M expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Overnight Rate 1.25% vs 1.25% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Labor Productivity q\/q 0.20% vs 0.10% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Trade Balance -1.9B vs -2.5B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) ADP Non-Farm Employment Change 235K vs 199K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Halifax HPI m\/m 0.40% vs 0.40% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">China Warns of &#39;Justified and Necessary Response&#39; to Trade War<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Further fall in UK housing stock as demand also falls for the eleventh month<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Markets Update:<\/strong><\/span><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Asian markets traded higher today, after risk sentiment improved, as suggestions of carve-outs for key partners hit the news. House Republicans continue to lobby the White House to drop the tariffs &ndash; whose announcement is expected this week. That said, investors continue to worry that the U.S. tariff could trigger a trade war, shrink the global trade, and eventually squeeze corporate profits that have so far benefited from strong global growth. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Canada and Mexico have been granted a 30 day exemption, which may be extended basis the NAFTA discussions &ndash; underlining speculation that the tariffs may be posturing for the US to negotiate more beneficial NAFTA terms.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Markets are in anticipation of minutes of today&rsquo;s ECB meeting, on whether the central bank will change its forward guidance on QE. Nikkei has been trading in the green, after a larger than expected upward revision in GDP. Power Generation has been outperforming in China following announcements that China will cut industry oversupply. ASX has also been trading higher after a larger than expected trade surplus.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The dollar stabilized against most currencies, partly due to announcements that key allies like Canada and Mexico would be exempt from the tariff. The euro has been trading largely flat, all eyes on the ECB meeting later in the day.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Bitcoin took a beating as US and Japanese regulators cracked down on cryptocurrencies. In a consumer protection move, Japanese regulators whipped seven exchanges, shutting down two of them. The SEC on the other hand, said that exchanges should be registered with them and subject to additional rules.<\/span>\n<\/p>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">12:45 PM GMT &#8211; (EUR) Minimum Bid Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Building Permits m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) NHPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (EUR) ECB Press Conference<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Unemployment Claims<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:00 PM GMT &#8211; (CAD) BOC Gov Poloz Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:35 PM GMT &#8211; (CAD) Gov Council Member Lane Speaks<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.55%, Shanghai Composite up 0.28%, Hang Seng up 1.37%, ASX up 0.69% Commodities: Gold at $1328.30 (+0.05%), Silver at $16.530 (+0.22%), WTI Oil at $61.22 (+0.22%), Brent Oil at $64.39 (+0.08%) Rates: US 10-year yield at 2.879, UK 10-year yield at 1.501, German 10-year yield at 0.662 News &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/thursday-8th-march-mexico-canada-may-be-exempt-from-trade-tariffs\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 8th March: Mexico, Canada may be exempt from trade tariffs<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":25114,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=25437"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25437\/revisions"}],"predecessor-version":[{"id":25438,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25437\/revisions\/25438"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/25114"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=25437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=25437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=25437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}