{"id":27362,"date":"2018-07-11T12:38:11","date_gmt":"2018-07-11T07:08:11","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=27362"},"modified":"2018-07-11T12:38:11","modified_gmt":"2018-07-11T07:08:11","slug":"wednesday-11th-july-asian-markets-slump-as-us-plans-new-tariffs-on-china","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/wednesday-11th-july-asian-markets-slump-as-us-plans-new-tariffs-on-china\/","title":{"rendered":"Wednesday 11th July: Asian markets slump as US plans new tariffs on China"},"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 1.28%, Shanghai Composite down 1.92%, Hang Seng down 1.61%, ASX down 0.68%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1252.90 (-0.20%), Silver at $16.02 (-0.45%), Brent Oil at $78.17 (-0.87%), WTI Oil at $73.64 (-0.63%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.836, UK 10-year yield at 1.302, Germany 10-year yield at 0.302<\/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;\">(EUR) German ZEW Economic Sentiment -24.7 vs -17.9 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Goods Trade Balance -12.4B vs -11.9B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Manufacturing Production m\/m 0.40% vs 1.00% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) GDP m\/m 0.30%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Japanese Yield Curve Collapses, Investors Give Up Hopes Of BoJ Normalization<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Australian Dollar Under Pressure Despite Upbeat Westpac Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">China Would Be Forced To Retaliate To New US Tariffs &#8211; MOFCOM China Is Shocked By US Action, The US List Is Unacceptable<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong style=\"font-size: 14px;\">Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Asian stock markets are in negative territory on Wednesday and U.S. stock futures declined, while the safe-haven strengthened amid escalating trade tensions between the world&#39;s two largest economies after the U.S. said it is considering imposing 10 percent tariffs on an additional $200 billion worth of Chinese imports. Crude oil prices slipped in Asian trades after rising overnight.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">The Japanese market is notably lower and the safe-haven yen strengthened amid an escalating Sino US trade war. The Australian market is declining despite the positive cues from Wall Street, amid renewed trade war concerns. In addition, weak commodity prices weighed on resources stocks.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">The dollar traded at 111.02 yen, pulled back from a near two-month peak of 111.355. The Aussie, considered a liquid proxy for China-related trades, fell 0.7 percent against the dollar to $0.7408. China&rsquo;s yuan lost 0.45 percent against the dollar and back towards an 11-month low plumbed last week.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">The 10-year Treasury note yield fell 3 basis points to 2.84 percent, pulling back sharply from a one-week peak of 2.875 percent scaled the previous day. Oil prices declined after the United States said it would consider requests from some countries to be exempted from sanctions it will put into effect in November that prevents Iran from exporting oil.<\/span>\n<\/p>\n<h4>\n\t<strong style=\"font-size: 14px;\">Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core PPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) PPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (CAD) BOC Monetary Policy Report<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (CAD) BOC Rate Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (CAD) Overnight Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 PM GMT &#8211; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:15 PM GMT &#8211; (CAD) BOC Press Conference<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:35 PM GMT &#8211; (GBP) BOE Gov Carney Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">05:30 PM GMT &#8211; (USD) FOMC Member Bostic Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 PM GMT &#8211; (USD) FOMC Member Williams Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\" style=\"font: inherit; background-color: initial; margin: 0px; padding: 0px; border: 0px; vertical-align: baseline; color: rgb(0, 114, 188); text-decoration-line: none; outline: 0px;\">&amp;more&hellip;<\/a>\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 1.28%, Shanghai Composite down 1.92%, Hang Seng down 1.61%, ASX down 0.68% Commodities : Gold at $1252.90 (-0.20%), Silver at $16.02 (-0.45%), Brent Oil at $78.17 (-0.87%), WTI Oil at $73.64 (-0.63%) Rates : US 10-year yield at 2.836, UK 10-year yield at 1.302, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/wednesday-11th-july-asian-markets-slump-as-us-plans-new-tariffs-on-china\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 11th July: Asian markets slump as US plans new tariffs on China<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":27364,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27362","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\/27362","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=27362"}],"version-history":[{"count":2,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27362\/revisions"}],"predecessor-version":[{"id":27365,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27362\/revisions\/27365"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/27364"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=27362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=27362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=27362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}