Market themes of the Day: Trump pulls $200 billion tariffs gun as Draghi opens Statistics conference in Frankfurt

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German ZEW index of investors’ sentiment recorded a decrease of 8.6 points in July 2018 and now stands at – 24.7 points, the lowest reading since August 2012. For further details read my Analysis here.

The ECB President Mario Draghi opens the 9th ECB Statistics Conference “20 years of ESCB statistics: What’s next?” in Frankfurt at 7:10 GMT. This is unlikely to deliver other than words of self-praise of how wise the ECB was to introduce asset purchasing to save the Eurozone from collapse.

The ECB chief economist Peter Praet delivers a speech at the first session of the ECB Statistics Conference at 7:30 GMT.

In the UK

Two of the Conservative party vice chairs, Ben Bradley and Maria Caulfield, are quitting in protest at Chequers plan.

The UK manufacturing output rose 0.4% m/m in May after falling -1.4% in April while the industrial production unexpectedly fell -0.5% m/m in May after falling -0.8% in the previous month.

The UK Office for the National Statistics delivered the first estimates of the monthly GDP in May that rose 0.3% in three months ending in May, meeting the market estimates. For further details read my Analysis here.

The Bank of England Governor Mark Carney is scheduled to speak about the global financial crisis at the National Bureau of Economic Research conference in Boston at 15:35 GMT.

In the US

The US pushed ahead with plans to impose tariffs on an additional $200 billion in Chinese goods by releasing a list of targeted products, with China set to retaliate the action.

source:-fxstreet.