China Announces Steps To Support Growth Amid Rising Trade Tensions

Trump blasts Fed, threatens to put tariffs on all Chinese goods

Trump blasts Fed, threatens to put tariffs on all Chinese goods

The U.S. has threatened to impose tariffs on more than 500 billion U.S. dollars of goods imported from China.

Chinese government bond yields and stocks rose on Tuesday after Beijing vowed to pursue a more "vigorous" fiscal policy, as authorities stepped up efforts to support growth amid rising economic headwinds.

The US leader is already embroiled in a messy trade dispute with China and Europe, while negotiations with Canada and Mexico to revamp the North American Free Trade Agreement have stalled. The Bloomberg Dollar Spot Index slid as much as 0.74pc, its biggest intraday decline since March, before paring its loss to around 0.6pc.

"The market has clearly made the determination that it does not need to take notice of President Trump's disquiet over the dollar's strength because the Fed is likely to stay its course and the United States economy remains strong", said Greg McKenna, chief market strategist at AxiTrader.

In commodities, oil prices were held back by concerns over U.S. Not only did Trump fuel a rally on Thursday by criticizing the Fed's monetary policy, but he also fueled a further rally on Friday after tweeting additional comments about the negative impact on the economy caused by the Fed's tightening and the strength of the U.S. Dollar.

Major exporters closed lower, with the electric appliances sector falling 1% and automakers declining 1.2% Uniqlo-owner Fast Retailing dropped 5.7%.

Benchmark 10-year Japanese Government Bond futures opened weaker on Monday, sending yields to six-month highs.

Spieth aims to retain British Open title but Woods lurks
It caps a stunning stretch for the 15th-ranked Molinari, who has won on the PGA and European Tours in the previous two months. He made a tough par save on the 17th, and then got up-and-down from behind the 18th green for a 68.

The Treasury secretary pointed out several sectors where US sales to China could rise, including energy, agricultural products and technology. -China trade tensions and increased supply.

US Treasury Secretary Steven Mnuchin said last week the United States was monitoring the recent weakness in China's yuan currency and would review whether it had been manipulated.

On top of the policy easing, analysts also cited new rules governing financial institutions' wealth management and asset management businesses for the jump in shares, noting they were less stringent than expected and would help to reduce systemic risks.

Trump's comments "are very direct and aggressive, and the market has seen that he has pushed forward regarding tariffs", said Shahab Jalinoos, Credit Suisse's head of global FX strategy.

Tokyo added 0.6 per cent while Hong Kong advanced 1.2 per cent and Shanghai jumped 1.5 per cent.

Gold has tumbled 10 percent since mid-April as a surge in the greenback made dollar-priced bullion more expensive for buyers with other currencies.

The bank allows the yuan to move 2 percent either way from the rate it sets daily.

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