The Fed was yesterday. Now the big issues are punitive tariffs, ECB and the UK elections! What is the situation of the charts before these events? The decisive factor is still likely to be whether Trump will impose tariffs against China – or not. The longer the US President delays the decision on punitive tariffs, the more nervous the markets will become. Today Trumps is supposed to meet Kudlow, Lighthyzer, Mnuchin and Navarro. But according to this report, the probability is high that the tariffs will be enforced, because the Trump administration is convinced that the punitive tariffs would not cause any economic damage to the US economy.
We will see. The stock markets, at any rate, obviously see it differently. US indices are trading only slightly below their all-time highs after the slump at the beginning of the week. However, the Dax has now failed several times above the 13300 mark, but was able to avoid a further downward breakthrough. If Germany’s leading index fails to break above the annual high, Chris Zwermann believes there is a risk of a major setback. Zwermann also looks at the Dow Jones and the British benchmark index FTSE before today’s elections. He also looks at the Pound and Copper (german video):