Reports over the weekend suggest that Trump has already made up his mind to impose a fresh wave of tariffs on $200 billion of Chinese imports. There has been talk of these tariffs coming into force for weeks now, but it appears that the US will now press ahead with them. Many people are criticising Trump’s moves, because the extra costs of the goods will likely be passed on to US consumers, but Trump is resolute in his belief that these measures are good for the US economy.
The economic schedule in the US doesn’t really get going until Thursday, when we will see initial jobless claims up to 15 September 2018 and existing home sales for August. However, we have plenty to keep us occupied with the ongoing threat of a trade war and Brexit.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.