{"id":133928,"date":"2018-09-18T09:59:12","date_gmt":"2018-09-18T13:59:12","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133928"},"modified":"2018-09-18T09:13:09","modified_gmt":"2018-09-18T13:13:09","slug":"trump-beats-the-drums-of-impending-china-trade-war-louder-than-before","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/trump-beats-the-drums-of-impending-china-trade-war-louder-than-before\/","title":{"rendered":"Trump beats the drums of impending China trade war louder than before"},"content":{"rendered":"
September 18, 2018<\/div>
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Article by ForexTime<\/a><\/p>\n

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The drums of trade war were beating louder than ever after U.S. President Donald Trump imposed a 10% tariff on an additional $200 billion worth of Chinese goods.<\/p>\n

This move has certainly elevated U.S.-China trade tensions to dangerous heights, especially when considering how the U.S. also threatened to raise tariffs up to 25% in 2019 if no deal is reached. With Beijing threatening to bite back, concerns over a full-blown trade war becoming reality are to set to intensify. Beijing may end up canceling trade talks with Washington as the latest U.S. tariff move brings “new uncertainties” to the negotiations.<\/p>\n

Financial markets offered a fairly muted response to the announcement as the tariffs were already heavily priced into markets. Investors may remain guarded and adopt a \u201cwait and see\u201d approach ahead of China\u2019s possible retaliation to the fresh round of U.S. tariffs.<\/p>\n

In the currency markets, Dollar bulls were nowhere to be found today despite simmering trade tensions eroding investor confidence. Buying sentiment towards the Greenback could receive a boost if Beijing\u2019s reaction fans trade war fears and promotes risk aversion. Although the fundamental drivers behind the Dollar\u2019s appreciation remain firmly intact, technically the Dollar is starting to look bearish on the daily charts. The Dollar Index is coming under increasing pressure with prices wobbling above the 94.50 support level. A breakdown below this point could encourage a decline towards 94.10 and 93.90. For bulls to jump back into the game, prices need to secure a solid weekly close back above 95.50.<\/p>\n

Sterling has the potential to appreciate sharply if the European Union adopts a flexible approach on Brexit at the European Union summit later this week. The GBPUSD remains firmly bullish on the daily charts with the weekly close above 1.3000 paving a path for further upside. An intraday breakout above 1.3170 could instil bulls with enough courage to challenge 1.3200 and 1.3260, respectively.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

Disclaimer:\u00a0<\/strong>The content in this article comprises personal opinions and should not be construed as containing personal and\/or other investment advice and\/or an offer of and\/or solicitation for any transactions in financial instruments and\/or a guarantee and\/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.<\/em><\/p>\n

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\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Article by ForexTime The drums of trade war were beating louder than ever after U.S. President Donald Trump imposed a 10% tariff on an additional $200 billion worth of Chinese goods. This move has certainly elevated U.S.-China trade tensions to dangerous heights, especially when considering how the U.S. also threatened to raise tariffs up to […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-133928","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=133928"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133928\/revisions"}],"predecessor-version":[{"id":133930,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133928\/revisions\/133930"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=133928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=133928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=133928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}