{"id":27279,"date":"2018-07-05T11:25:06","date_gmt":"2018-07-05T05:55:06","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=27279"},"modified":"2018-07-05T11:25:06","modified_gmt":"2018-07-05T05:55:06","slug":"thursday-5th-july-asian-markets-brace-for-impact-from-trumps-tariffs","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/thursday-5th-july-asian-markets-brace-for-impact-from-trumps-tariffs\/","title":{"rendered":"Thursday 5th July: Asian markets brace for impact from Trump&#8217;s 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 down 0.86%, Shanghai Composite down 0.93%, Hang Seng down 1.16%, ASX up 0.45%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1255.90 (+0.19%), Silver at $16.09 (+0.26%), Brent Oil at $77.82 (-0.54%), WTI Oil at $73.72 (-0.57%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.845, UK 10-year yield at 1.282, Germany 10-year yield at 0.318<\/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;\">(GBP) Services PMI 55.1 vs 54 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Final Services PMI 55.2 vs 55 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German Final Services PMI 54.5 vs 53.9 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) French Final Services PMI 55.9 vs 56.4 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Italian Services PMI 54.3 vs 53.3 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Spanish Services PMI 55.4 vs 56.3 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Bank of Japan Takes Away Punch Bowl, Balance Sheet Declines<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Feng: 59% of $34B goods under US tariffs are by foreign companies, adds that China won&#39;t bow to threat or blackmail<\/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 stocks were broadly lower on Thursday as investors adopted a cautious stance ahead of the July 6 deadline, when U.S. tariffs on Chinese goods are due to take effect. Regional losses remained limited after China said that it &quot;absolutely will not fire the first shot&quot; in its trade dispute with the United States. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The United States plans to implement tariffs on $50 billion worth of imports from China as both nations remained locked in a bitter trade dispute that has convulsed global financial markets in recent weeks. On July 6, tariffs on $34 billion worth of imports will take effect, and Beijing has promised to retaliate in kind.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Japan&#39;s Nikkei 225 dropped by a percent amid broad-based weakness, with declines in oil producers and retailers leading losses the losses. Seoul stocks gave up early gains to turn lower as trade tensions simmered. On the mainland, losses on the Shanghai composite steepened through the morning. Hong Kong&#39;s Hang Seng Index lost more than a percent, with the energy and materials sectors among the worst-performing.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Chinese yuan was slightly lower, its recovery from an 11-month low stalling. A rebound in the yuan was triggered in the past two sessions after the central bank sought to calm nervous markets midweek and stem the currency&rsquo;s recent tumble. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The dollar held flat against the yen and gold held steady ahead of minutes from the U.S. Federal Reserve&#39;s June policy meeting, due later in day while oil prices fell about half a percent after U.S. President Donald Trump sent a tweet urging OPEC to reduce prices for crude.<\/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;\">11:00 AM GMT &#8211; (GBP) BOE Gov Carney Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:15 PM GMT &#8211; (EUR) German Buba President Weidmann Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:15 PM GMT &#8211; (USD) ADP Non-Farm Employment Change<\/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;\">03:00 PM GMT &#8211; (USD) ISM Non-Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:00 PM GMT &#8211; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">07:00 PM GMT &#8211; (USD) FOMC Meeting Minutes<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp;more&hellip;<\/a><\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;\n<\/p>\n<p>\n\t&nbsp;\n<\/p>\n<p>\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 0.86%, Shanghai Composite down 0.93%, Hang Seng down 1.16%, ASX up 0.45% Commodities : Gold at $1255.90 (+0.19%), Silver at $16.09 (+0.26%), Brent Oil at $77.82 (-0.54%), WTI Oil at $73.72 (-0.57%) Rates : US 10-year yield at 2.845, UK 10-year yield at 1.282, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/thursday-5th-july-asian-markets-brace-for-impact-from-trumps-tariffs\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 5th July: Asian markets brace for impact from Trump&#8217;s tariffs<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":27155,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27279","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\/27279","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=27279"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27279\/revisions"}],"predecessor-version":[{"id":27280,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27279\/revisions\/27280"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/27155"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=27279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=27279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=27279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}