It was naive to expect that Trump would limit himself to steel tariffs after Gary Cohn resigned. Rex Tillerson, the US Secretary of State has also resigned, and the news hit the wire that Trump plans to tax the Chinese imports with 60 billion dollars.
Investors are understanding that virtually all cryptocurrencies are brining profits and losses to the table. The largest on the capitalization has been on Bitcoin, Ethereum and Ripple, but they fell on Tuesday by more than 20%.
Is the fall of the Chinese stock market temporary?
China’s blue chip index, the Shanghai Composite, fell 0.39% on Friday, while Japanese Hang Seng rose 0.28%. the Chinese index lost 3%, recording the largest decline since the market collapse in January 2016.
It seems that the RBA does not seem eye to eye with the market on the monetary support. Investors are likely to “sell” the Central Bank rate increase at the next meeting. At the same time the AUD/USD continues to conquer the peaks.