NAFTA Fan Now In The White House


Stock markets rode out a second day of losses on Wednesday as protectionist rhetoric continued in Washington and February data disappointed. According to multiple U.S. media sources, President Donald Trump is eyeing tariffs on close to $60 billion in goods from China.

U.S. consumers continued to stay home in February, as confirmed by the drop in Retail Sales for a third straight month. However, income tax cuts and an improving job market should have a positive impact in March.

Larry Kudlow, Gary Cohn’s replacement as the White House’s National Economic Council director, had tough comments regarding trade with China in an interview with his former employer CNBC. However, Kudlow is pro-NAFTA and an advocate of trade with Canada. He also stressed that he favours a strong U.S. dollar and a U.S. economy with minimal regulations as a way to defend entrepreneurship.

This morning, with no major economic indicators on the calendar, calm has returned and the greenback and stock markets are up slightly.

Mark Donohue

Range of the day: 1.2900 – 1.3025

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link



Leave a Reply

error: Content is protected !!