Trump Trade War- Trump threatens Dollars 500 billion tariffs on China

Trump Trade War- Trump threatens Dollars 500 billion tariffs on China

Trump Trade War- Trump threatens Dollars 500 billion tariffs on China

Adding that France is eager to work on a full renewal of the WTO, the European Commission will not make a formal proposal on trade talks until the U.S. takes the first step by withdrawing steel and aluminium tariffs.

The pan-European STOXX 600 index slumped 0.2 percent at 384.94 points, while the FTSEurofirst 300 index plunged 0.3 percent to 1,506.82 points.

"If [the government] feels like the Fed is not working within the policies of the United States government, they have a right to stand up and say something", Grant added in a " Squawk Box " interview. The BoJ is scheduled to hold its next monetary policy meeting on July 30 and 31.

Also playing a role in the global tick-up in yields was a Reuters report that the Bank of Japan was in unusually active discussions to modify its massive easing programme.

The Reuters report and the dollar's weakness together added to the yen's strength, which was last up 0.5 percent at 110.91 per dollar. Australian shares .axjo were off 0.1 percent while the New Zealand market .nz50 was down 0.4 percent.

The U.S. dollar fell the most in three weeks against a basket of six major currencies, halting a rally that had driven the greenback to a year high.

In Hong Kong, the Hang Seng gained 31.64 points, or 0.1%, to 28,256.12, as steep losses in the tech space were offset by gains in property stocks, materials and heavily weighted financials.

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European Commission President Jean-Claude Juncker heads to Washington on Wednesday to meet with President Donald Trump and try to avert an escalation of tit-for-tat trade tariffs. "Trade tensions are likely to remain in the headlines", asset manager Insight Investment, which is owned by BNY Mellon, said in a note.

While China has for now ruled out broad monetary loosening amid a multi-year effort to combat excessive financial risks, the country's economic data showed signs of weakness even before the latest ratcheting up of trade war tensions.

"Nonetheless, the trade numbers that were released for Singapore and Japan were worse than expected". Offshore one-year non-deliverable forwards contracts (NDFs), considered the best available proxy for forward-looking market expectations of the yuan's value, traded at 6.833, 1.08 percent weaker than the midpoint.

The euro climbed for a third straight day to a two-week top of $1.1746. It was flat at $1.1727.

Oil edged down after prices increased at the end of last week, with analysts saying concerns about the trade dispute were to blame for the dip. U.S. West Texas Intermediate was trading 1.2 percent higher at $68.85 a barrel, after falling as low as $67.08 on Tuesday, its lowest since June 22. Brent settled at $73.18, up 11 cents.

Spot gold was down 0.5 percent at $1,225.41 an ounce by 1441 GMT, close to last Thursday's low of $1,211.08, while USA gold futures for August delivery were down 0.5 percent at $1,225.50.

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