ENERGY: Trump Tariffs Threaten Energy Trade
U.S. President Donald Trump threatened tariffs on the European Union and China on Tuesday, causing further uncertainty for markets as they asses potential Canada/Mexico tariffs.
- "The European Union is very, very bad to us," he said, repeating comments made Monday. "So they're going to be in for tariffs. It's the only way ... you're going to get fairness."
- China, Mexico, Canada are in the firing line for Feb 1 duties which has caused a flood of Canadian oil to head to the U.S.
- “We’re talking about a tariff of 10% on China, based on the fact that they’re sending fentanyl to Mexico and Canada,” Trump said.
- Mexico and Canada rates have been threatened as high at 25%.
- Trump aggressively targeted China during his first term over trade.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
MNI EXCLUSIVE: China Steel Demand Seen Falling Next Year
MNI looks at China steel demand in 2025 -- on MNI Policy MainWire now, for more details please contact sales@marketnews.com.
SILVER TECHS: Bearish Outlook
- RES 4: $35.226 - 61.8% of the 2011 - 2020 major bear leg
- RES 3: $35.167 - 2.00 proj of the Aug 8 - 26 - Sep 6 price swing
- RES 2: $33.125/34.903 - High Nov 1 / High Oct 23 and the bull trigger
- RES 1: $30.942/32.338 - 50-day EMA / High Dec 12
- PRICE: $29.774 @ 08:00 GMT Dec 21
- SUP 1: $28.748 - Low Dec 19
- SUP 2: $28.446 - 76.4% retracement of the Aug 8 - Oct 23 bull cycle
- SUP 3: $27.686 - Low Sep 6
- SUP 4: $26.451 - Low Aug 8
A bear cycle in Silver that started Oct 23 remains in play and last week’s move lower reinforces the trend condition. The metal has breached support at $29.642, the Nov 28 low. The break lower opens $28.446, a Fibonacci retracement. Note that moving average studies are in a bear-mode position highlighting a dominant downtrend. Key resistance has been defined at $32.338, the Dec 12 high. A break of this level would signal a reversal.
MNI: SPAIN Q3 FINAL GDP +0.8% Q/Q
- MNI: SPAIN Q3 FINAL GDP +0.8% Q/Q
- MNI: SPAIN Q3 FINAL GDP +3.3% Y/Y
