Summary:

  • European stocks pare early losses

  • Swedish krone trades higher following inline CPI reading

  • Bitcoin dips below $9k mark

Stock markets remained under pressure in the morning as Donald Trump plans to impose tariffs on Chinese goods spurred new wave of uncertainty on the markets. However, losses were erased by the European stocks as the time passed by. Australian dollar outperform its G10 peers while the Swiss franc is the biggest laggard. Gold trades unchanged while oil prices advance.

Swedish inflation in February turned out to stay unchanged compared to the prior month meeting economists’ expectations at the same time. Even as price growth was not so a long way off from the Riksbank’s aim, price dynamics missed the latest estimates presented by the country’s central bank.

After a departure of Gary Cohn, a firing of Rex Tillerson could be another step towards a more radical and unpredictable White House. We take a look at major differences between president Donald Trump and his ex-State Secretary and consider possible market implications.

All traders and pundits were taken off-guard when Google announced it was going to ban all ads regarding cryptocurrencies as well as so-called initial coin offerings or ICOs beginning in June as a part of a wider crackdown on high-risk financial products.

It was widely expected that Jens Weidmann, the head of Bundesbank, will succeed Mario Draghi as a President of European Central Bank. However, the things may take a different path according to Bloomberg. Angela Merkel is said to sacrifice the position of ECB head in a tradeoff that will grant her more influence on Emmanuel Macron’s push for closer cooperation among euro countries.

The US 10Y yield neared 2.8% yesterday evening after the newest revelations with regard to tariffs being imposed by Trump’s administration. According to people with direct knowledge of the matter US President Donald Trump is seeking to impose fresh tariffs on Chinese goods including consumer electronics, telecoms and apparel.

On Wednesday investors will be served with another portion of data from the US economy. However, the most important reading of the week, CPI inflation, has been already released thus the volatility spurred by the retail sales and PPI data may be subdued.