Scheduled economic news most likely to move markets today 12th July 2019
Singapore – GDP figures
Japan – industrial production data
China – exports and trade balance data due at: 08:00 (BST)
EU – industrial production data due at: 13:30 (BST)
U.S. – producer price index, energy and food due at: (13:30) BST
Ongoing and new
U.S. & China trade war – talks progress – report of communication on Tuesday 9th July 2019 but no new detail since.
Fed interest rate cut speculation jumped up a notch on 10th July 2019 as Fed seemingly hinted at a July rate cut being more likely now as economic headwinds gather – (markets expect it)!
Dow sets new record high, surges over 27000
U.S. markets reaction to the Fed’s comments pushed the Dow and S&P 500 to record highs. Dow surges through 27000 for the first time ever on the back of the Fed indicating a rate cut move in July.
Just how strong is the U.S. economy? U.S. trade/tariff policies continue to weigh on global markets, but you wouldn’t think so with the Dow setting new record highs!
Geopolitical tensions (U.S., Iran, UK & EU) over Iranian sanctions deal. Tensions over oil tanker movements in the Strait of Hormuz continues. UK Brexit paralysis continues. U.K. leadership challenge ebbs on, result expected next week. Italy’s debt and weakening economy looming on the horizon.
Economic slowdown?
Potential global economic slowdown concerns linger as news of U.S. China trade outcome is awaited. Japan and South Korea trade tensions reported.
China reportedly made request for U.S. to unravel/cancel planned Taiwan arms deal. U.S. trade tensions with India growing. Huawei? The UK economy grew more than expected in May according to data from the Office for National Statistics but remains subdued.
Trump’s tweet stirs it up
And latest diplomatic spat between U.S. and UK over the UK’s U.S. ambassador’s alleged leaked comments leading to President Trump’s criticism of Prime Minister May rumbles on as the ambassador resigned this week.
Trump tweets his concern of Facebook’s planned cryptocurrency offering, Libra. Needless to say, he’s not a fan!
Trump’s tweets continue…