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Daily News - White House denies reports of cancellation of duties

1. The White House has denied reports of agreements to abolish duties

2. Reserve Bank of Australia reduces forecasts for GDP growth

3. Jean-Claude Juncker: Donald Trump will not introduce duties on the European auto industry

4. Rafael Bostic: Fed policy will be determined by macro statistics

 

Asian indices today are traded in the red zone in response to statements by White House advisers Peter Navarro that the US and China have not yet reached an agreement to phase out trade duties. Thus, he refuted earlier statements by the Ministry of Commerce of the PRC that the parties agreed on the complete abolition of previously imposed duties. According to Novarro, the only person who can make this decision is Donald Trump. So far, the president has not agreed to such concessions.

 

This morning, the Reserve Bank of Australia presented a report on monetary policy in which it lowered its forecast for economic growth for 2020 from 2.75% to 2.5%. The regulator noted that short-term bearish risks for the country's economy are now associated with housing construction and the increasing influence of the US-China trade conflict on the services sector.

 

This morning, the European press circulated comments by European Commission President Jean-Claude Juncker that Donald Trump would not impose 25 percent duties on European cars and parts.

 

The head of the Atlanta Federal Reserve Bank Rafael Bostik today announced that the Fed’s further monetary policy will depend on incoming macroeconomic data reflecting prevailing trends and the current state of the country's economy. The regulator will seek to track signs of a slowdown in the economy as early as possible and respond accordingly.

 

 

News worth paying attention to today:

13:30 GMT. Canada: Labor Market Report

 

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