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French government spokesman: (Regarding Trumps tariff measures) We are ready for this trade war.French government spokesman: France will respond to Trumps tariffs together with Europe and reiterate that it will take reciprocal measures against digital services.On April 3, Anhui Provincial Governor Wang Qingxian presided over the 66th executive meeting of the provincial government on the afternoon of April 2 to review the "Opinions on Promoting the "Double Recruitment and Double Introduction" of Emerging Industries and Improving the Quality and Efficiency of Industrial Cultivation (Version 2.0)". The meeting pointed out that promoting the "double recruitment and double introduction" of emerging industries and improving the quality and efficiency of industrial cultivation is an important measure to create an emerging industry gathering place. We should focus on optimizing the industrial ecology, promoting the coordinated advancement of investment promotion and talent attraction, deepening the integrated development of "government, industry, academia, research, finance and services", and driving the integration of science and technology, industry and talents to land and empower each other. We must adhere to cutting-edge thinking, cutting-edge observation and cutting-edge action, further improve the quality and efficiency of the operation of the industry special team, constantly launch new offensives and achieve new results, and provide more powerful support for the provinces high-quality development.On April 3, Trump announced on April 2 that he would impose a 24% reciprocal tariff on Japan. In terms of details, the United States accused Japan of imposing a 700% tariff on American rice. Given that Japan imposed a "46%" tariff on the United States, a "24%" reciprocal tariff was imposed on Japan. Japans Minister of Agriculture, Forestry and Fisheries Taku Eto responded on April 3: "Even if you calculate logically, you wont get such a number. Its incomprehensible."Euro Stoxx 50 futures fell 2.08%, Germanys DAX futures fell 2.12% and Britains FTSE 100 futures fell 1.48%.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

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In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.