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THE DAILY MACRO BRIEF: Russia is Trump's new target, the Republicans in trouble…

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08/09/2018 | 02:29pm CEST

Every day, we review the macroeconomic and geopolitical news impacting financial markets around the world. Today, Donald Trump remains quiet about financial markets, which we're rather pleased about, but the United States is not totally absent either: it is Russia's turn to experience new trade sanctions. Elsewhere, China remains confident despite new American tariffs, and the Canada/Saudi Arabia conflict is raging. Here are the main events of the day, updated regularly.

Donald Trump. Trump did not intervene on the international scene (for once!). However, he made a controversial statement regarding the fires ravaging California. His idea? Cutting down trees to stop the spread of fires. No comment.

United States. The Republican Party is facing obstacles ahead of the midterm elections next November. A Republican candidate, fiercely supported by Trump, narrowly won in Ohio yesterday, a state usually loyal to Republicans. Matt Mackowiak, a GOP strategist, even said than Democrats "have the wind at their back". To be continued…

Russia. It is Moscow's turn to be a victim of American protectionism. From August 22, sanctions - the specifics have not been released yet - will be imposed on Russia. This announcement comes after the United States convicted Moscow of poisoning a former Russian double agent and his daughter, both English residents, with Novichok.

China. Beijing's response to customs duties has strongly pleased investors today: all Chinese indices are in the green this morning. The public television channel CCTV also stated that China has "confidence in the protection of its interests" and has "many means at its disposal" to do so. The announcement of increased government support for large high-tech companies is also a factor.


Canada. It seems that the conflict with Saudi Arabia will continue as long as both countries refuse to soften their stance. Justin Trudeau said he will not apologize and even reaffirms his will to defend Human rights. Ryad expects Canada to "correct its huge mistake". Meanwhile, trade is frozen and flights, university exchange programs and medical treatment for Saudi patients in Canada are suspended. However, the diplomatic crisis will not affect oil exports according to the Saudi Energy Minister. 
Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.35% 25444.34 Delayed Quote.2.15%
LONDON BRENT OIL 0.05% 79.98 Delayed Quote.20.55%
NASDAQ 100 2.77% 7107.233 Delayed Quote.11.89%
S&P 500 -0.59% 2767.78 Real-time Quote.3.50%

Floriane Rousseaux
© MarketScreener.com 2018
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