Trump’s new tweet created uncertainty

Fears that the U.S may impose new taxes on EU

The United States President Donald Trump blamed Europe and China for manipulation regarding their currencies. The statement created once more uncertainty in the markets and sparked concerns that the U.S may eventually impose tariffs on Europe after Trumps repeated warnings.

The Chief economist at Dutch bank ING Robert Carnell stated that “Accusations of Eurozone currency manipulation are flying from the White House with talk of tariffs on the EU and European countermeasures heating up trade tension between the two regions".

On Wednesday In a tweet, The U.S President said: “China and Europe playing big currency manipulation game and pumping money into their system in order to compete with the USA.”

Record highs for NASDAQ and Dow

On Wednesday the U.S stocks finished touching their record tops while traders are considering to venture towards a possible rate cut from the Federal Reserve later this month, following the release of surprisingly weaker economic data. The Nasdaq Composite improved more than 0.5% to 8,170.20. The S&P 500 finished merely 0.1% under 3,000.

The Dow Jones Industrial Average advanced more than 178 points to finish the day at 26,965 while the S&P 500 too increased by more than 0.5% to 2,995.80.

The greenback got a hit from FED possible rate cut

On Thursday, the popular US Currency, the U.S dollar registered a weak tone and was exchanged near a 5-day low against the Japanese yen. That was due to weak Treasury yields that raised the expectations that the FED will probably lower the interest rates this month and that will be the first time in10 years.

The dollar index versus a box of six main currencies was slightly lower at 96.733.

Weaker drop in U.S Stockpiles pulled oil down

On Thursday, Oil dropped more than 0.5%, pulled under by numbers presenting a weaker than expected drop in the U.S. crude stocks and concerns about the global economy. The U.S. WTI crude futures fell about 1% at $56.77 per barrel. WTI finished Wednesday advancing 1.9 %.

Brent crude futures, fell 1% at $63.20 per barrel. Brent closed more than 2% above on Wednesday.

Trump’s new tweet created uncertainty

Fears that the U.S may impose new taxes on EU

Record highs for NASDAQ and Dow

The greenback got a hit from FED possible rate cut

Weaker drop in U.S Stockpiles pulled oil down

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