There are few data releases today and market focus therefore continues to be on a possible escalation of the trade dispute between the US and China, according to analysts at Danske Bank.
“A week has passed since the public hearing period ended for another set of tariffs on USD200bn of imports from China, which makes it possible that the new tariffs could be announced today, if the same pattern is followed as in May, when the last tariffs were announced.”
“Another key market focus is the situation in emerging markets, where pressure continues to mount in a wider set of countries, which are particularly vulnerable to further escalation in the trade dispute between the two biggest economies in the world.”
“In Brussels, the European parliament will vote on launching article 7 procedures against Hungary, given concerns about repression of freedom of speech and legal rights of organisation.”
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