Asian shares made a time out on Friday, floating fair below 1-1/2-year highs as investors chocked for a possibly rickety gathering after US President Donald Trump addressed China “grand champions” of influence over currency. Over the past months, financial markets had pummeled by rising isolationism imposing new trade barriers under the Trump administration, and Trump’s latest comments on China does little to bring confidence on trade relations between the world’s two biggest economies. He proclaimed that there is also high trade deficit with China which has to be corrected.
The chance of hike in Fed rate and robust expectations of tax cuts in Us MARKETS may help the shares to bloom in future days. The 10 year US treasuries yield hit a two week low of 2.372% with dollar slipping to 112.55 yen with Euro fetching USD 1.0584 with Dow managing to nick a record high for a 10th straight session, the longest smudge since 1987 where yuan fell 6.6% last year in its biggest drop since 20 years.
Trump acclaims that he has not found a single country where US has a fair trade deal:
Addressing around two dozen CEO’s of major US companies on Thursday, President Donald Trump said that he was delivering on his campaign promises and plans to bring back the ‘good jobs’ back to the country.
