Global trade war threatens to derail modest euro zone growth:...
9/7/2018, 12:43:31 AMEuro zone economic growth will be modest at best over the coming year, according to a Reuters poll of economists who unanimously said the trade war between the United States and China threatens the outlook. ✔ Economists were almost evenly split between being concerned and not worried about differing speeds of growth and inflation in member countries within the currency bloc ✔ While 20 of 41 respondents said they were concerned, the remaining 21 said they were not, including two who said they were not concerned at all ✔ Our Standards:The Thomson Reuters Trust Principles
U.S. job growth seen picking up, unemployment rate falling
9/7/2018, 4:16:46 AMU.S. job growth likely accelerated in August, with the unemployment rate expected to have fallen back to an 18-year low of 3.8 percent, which would bolster views that the economy was so far weathering the Trump administration's escalating trade war with China. ✔ U.S. unemployment rate is near the lowest in 18 years: reut.rs/2oLzTQb MODERATE WAGE GROWTH Nevertheless, the anticipated one-tenth of a percentage point drop in the unemployment rate from 3.9 percent in July should underscore tightening labor market conditions and cement expectations for a third interest rate increase from the Federal Reserve this year when policymakers meet on Sept
U.S. Trade Deficit Jumps To 5-Month High Despite Trump's Tariffs
9/7/2018, 3:16:15 AMDeficits with China and the European Union hit records, according to the latest federal statistics. ✔ Getty Images America’s trade deficit hit a five-month high despite steep tariffs enacted by President Donald Trump on imports, according to the latest federal statistics released by the Commerce Department ✔ Some now believe that the trade war will hurt the American economy, and the GDP will begin to sink, Bloomberg reported
Aussie dollar falls to 2-1/2 year lows as trade fears hit sentiment
9/7/2018, 7:49:24 AMThe Australian dollar fell to its weakest level in more than 2-1/2 years on Friday as fears over an escalation in the trade conflict between the United States and China dominated concerns while safe haven currencies such as the franc and yen gained. ✔ The U.S. currency held in relatively tight ranges against other major peers such as the euro and pound, with the market bracing for the highly anticipated U.S. jobs report due later in the session ✔ August U.S. non-farm payrolls report is due at 1230 GMT ✔ Our Standards:The Thomson Reuters Trust Principles
Australian dollar drops as investors brace for US-China escalation
9/7/2018, 5:11:45 AMundefined ✔ The currency, which is seen by investors as being exposed to regional trade volumes, was down 0.5 per cent at $0.7164, hovering near a two-year low touched on Wednesday ✔ This is a negative for various currencies but the Aussie seems to be the main Asia risk proxy, as it often is
European markets seen slightly higher but trade concerns weigh on sentiment
9/7/2018, 5:55:18 AMEuropean shares are expected to open slightly higher on Friday morning, but investors remain cautious amid new trade threats. ✔ The FTSE is seen up by 5 points at 7,323; the DAX is seen higher by 3 points at 11,958; and the CAC 40 is set to open higher by 8 points; according to IG ✔ In Asia, stocks were under pressure due to ongoing concerns over a trade war between the United States and China ✔ On Thursday, President Donald Trump told a Wall Street Journal columnist that he will take his trade fights to Japan next
A handful of Asia's currencies are holding up amid the carnage hitting their peers
9/7/2018, 6:15:14 AMAmid the carnage in emerging market currencies over the past two weeks, a few have held up relatively well. The Thai baht, in fact, has stood out with its exceptional performance. ✔ Getty Images Amid the carnage in emerging market currencies over the past two weeks, a few have held up relatively well ✔ Additionally, Goh said, Thailand's economic growth is looking stronger and its central bank could soon raise interest rates which would support the currency further
Ashmore plans Ireland office ahead of Brexit
9/7/2018, 6:47:56 AMundefined ✔ Ashmore became the latest UK-based asset manager to unveil plans to establish an office in Ireland ahead of Britain’s departure from the EU, highlighting the pressure on fund groups to prepare ✔ Pre-tax profits fell 7 cent to £191.3m in the year ending on June 30, compared with a market consensus of £188.6m
Tech companies make last-minute effort to avoid new China tariffs
9/7/2018, 1:37:57 AMDell, Cisco and other networking equipment makers want to be exempt from the possible tariffs on $200 billion of goods from China. ✔ They say the increase in prices would negatively impact customers, small businesses, internet service providers, and data centers ✔ The tariffs, if imposed, would cover roughly half of all Chinese goods entering the United States ✔ If the tariffs go into effect, companies will still be able to request and exemption for certain products, but it could take months to get a ruling
Tech firms ask for Trump tariff protection
9/7/2018, 7:12:02 AMFour US companies warn another round of taxes on Chinese imports could result in job losses. ✔ 'Disproportionate harm' The four tech firms are concerned that tariffs will increase the cost of items such as hard drives, servers and networking equipment, which could hit profits and result in job cuts in the US ✔ While the firm stressed it was confident it would be able to make changes necessary to mitigate any impact of the tariffs, an HPE spokesperson said: Changes to a tariff system that has worked well for decades is not the way to go for our country
US-China trade could see 'two more years of serious tension,' says economist
9/7/2018, 5:04:03 AMSome economists see prolonged tensions in trade relations between the U.S. and China, as others say America's trade deficit problem is "multilateral." ✔ The problem with the US is 'we do not save,' says Stephen Roach 1 Hour Ago | 02:54 Echoing that sentiment, Stephen Roach, an economist and senior fellow at Yale University, said a significant escalation in the U.S.-China trade conflict will occur, even though it remains to be seen whether Trump goes the full $200 billion, or not, initially
Hong Kong stocks slip as street braces for US tariff moves
9/7/2018, 5:44:45 AMHeavyweights Tencent, AIA and China Construction Bank erase early gains by noon ✔ Tencent Holdings, the most valuable company listed in Hong Kong, declined 1% after advancing as much as 1.6% ✔ In the mainland, the Shanghai Composite slipped 0.1% ✔ The yuan traded onshore fell 0.1% against the dollar to 6.8394 ✔ Try 3 months for $9 Offer ends September 30th
Asia shares hit 14-month lows, yen advances on trade jitters
9/7/2018, 12:43:19 AMAsian shares slipped to a 14-month trough on Friday as investors feared a new round of Sino-U.S. tariffs could come at any moment, while a slump in U.S. chip stocks rippled through the tech sector. ✔ Still, analysts at NatWest Markets cautioned that: Despite employment indicators pointing to another strong report, it is worth noting that there is a tendency for August payrolls to initially disappoint and then be revised up noticeably later ✔ Our Standards:The Thomson Reuters Trust Principles
Asia shares worn out by trade tension, yen a safe harbor
9/7/2018, 6:48:40 AMAsian shares carved out a 14-month trough on Friday as investors feared a new salvo of Sino-U.S. tariffs could come at any moment, while a slump in U.S. chip stocks rippled through the tech-heavy region. ✔ The tech sector was also very weak overnight, with a slide in Micron of almost 10 percent and further weakness in the Chinese Internet ADRs ✔ WATCHING WAGES Eyes were now turned to the U.S. payrolls report for August which is expected to show a robust rise of 191,000, in part as July was temporarily depressed by the closure of the Toys R Us chain that month ✔ Our Standards:The Thomson Reuters Trust Principles
Why statism today?
9/7/2018, 6:11:54 AMundefined ✔ For instance, the government raised the minimum wage by a whopping 16.7 percent this year as part of efforts to keep Moon's campaign promise ✔ It also implemented a shorter 52-hour workweek July 1 ✔ Heo Mane (mane398@naver.com) is a professor emeritus and adviser of the Korea-EU Forum
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