- Trump and Hu Xijin tweets doing the rounds.
- Gold bulls hold in positive territory.
- IMF's leader, Christine Lagarde calls on governments to de-escalate current trade disputes.
Just as we thought trade risks lights were being dimmed down, today's round of Tweets have turned them up again. In recent trade, a number of tweets have been doing their usual circuit, from the usual suspects, Trump, Hu Xijin (Global Times editor in Chief), and to top it off, the IMF's leader, Christine Lagarde, has been reported by Bloomberg to have called on governments to de-escalate current trade disputes and instead work to fix the global system.
Diversification flows should help to keep gold underpinned as we head into the Fed, something written in more depth here.
Meanwhile, the Bloomberg article, Trade Must Be Fixed Without Tit-for-Tat Tariffs, is a write up following Lagarde speaking at a conference on central, eastern and south-eastern European economies, known as CESEE. There, she said the world needs a “renewed focus on the distortionary effects of state subsidies” as well as improving the enforcement of intellectual property rights, and ensuring effective competition. “There is no question this is a challenging time for CESEE, and Europe as a whole,” she said.
“This means avoiding tit-for-tat tariffs and instead finding ways to unlock the full potential of e-commerce and trade in services,” Lagarde said at the European Central Bank on Wednesday. “Global growth has been subdued for more than six years and the largest economies in the world are putting up, or threatening to put up, new trade barriers. And this might be the beginning of something else which might affect us in a more broad way.”
In recent trade, Trump has said:
- No deadline for additional tariffs on China.
- If China deal cannot be reached, will put tariffs on $325 Bln of Chinese goods.
- Trump says his deadline for China to return to trade talks is "up here," in his head.
- Could take ‘additional steps’ on Mexico In 45 Days.
Hu Xijin (Global Times editor in Chief), has Tweeted:
- "As far as I know, China's state media will publish more heavyweight commentaries criticizing the US & demonstrating China's determination. It's rare to see scathing attacks against the US in state media. This shows Beijing is preparing for China-US ties getting further worsening."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD remains under pressure above 0.6400
AUD/USD managed to regain some composure and rebounded markedly from Tuesday’s YTD lows in the sub-0.6400 region ahead of the release of the Australian labour market report on Thursday.
EUR/USD faces decent contention around 1.0600
The knee-jerk in the Greenback reignited some buying interest in the risk complex and pushed EUR/USD to three-day highs near 1.0680, rapidly leaving behind the recent yearly low around 1.0600.
Gold eases despite risk-off mood
Gold trades in a relatively tight range near $2,390 in the second half of the day on Wednesday. In the absence of high-tier data releases, investors keep a close eye on headlines surrounding the Iran-Israel conflict.
Ethereum trades around the $3,000 support following a surge in validator queue
Ethereum (ETH) continued a sideways movement on Wednesday as investors seemed to be waiting for an upward or downward price catalyst. Despite the price stagnancy, the ETH validator queue - possibly fueled by the DeFi restaking boom - rose sharply.
Australia unemployment rate expected to rise back to 3.9% in March as February boost fades
Australia will publish its monthly employment report first thing Thursday. The Australian Bureau of Statistics is expected to announce the country added measly 7.2K new positions in March after the outstanding 116.5K jobs created in February.