News

The GBP/JPY pair trades 0.8% to near 201.40 during the European trading session on Tuesday.

• China urges the US to correct mistakes
• US moves affect global supply chain stability

Such comments are not new. The Chinese continue to repeat that they don’t want to escalate things and resolve the issues via dialogue.

Update:

Reuters sources are now saying that China is increasing oversight of export license applications for rare earth magnets (this reportedly started last week). Looks like arm wrestling now with China pressing the US to roll back the latest measures (US port fees on China-linked vessels).

This article was written by Giuseppe Dellamotta at investinglive.com.

Here is what you need to know on Tuesday, October 14:

The Dutch government took control over Nexperia to prevent a situation in which the goods produced by the firm would become unavailable in an emergency.

The Pound Sterling (GBP) faces selling pressure against its peers on Tuesday after the release of the United Kingdom (UK) labor market data for the three months ending in August.

The Zentrum für Europäische Wirtschaftsforschung (ZEW) will release its German Economic Sentiment Index and the Current Situation Index at 09:00 GMT later on Tuesday.

The US Dollar has resumed its uptrend against a weaker Canadian Dollar this week.

• Eurostoxx -1.0%
• Germany DAX -0.9%
• France CAC 40 -1.0%
• UK FTSE -0.4%
• Spain IBEX -0.4%
• Italy FTSE MIB -1.2%

The selloff is broad based with financials also looking heavy amid lower bond yields today. It’s a risk-off mood in markets as US-China tensions return back to the spotlight after the hopeful optimism yesterday is dashed. The clock is ticking to see if both sides can work towards another agreement of sorts before 1 November. US futures are also dragged lower with S&P 500 futures down 0.8% while Nasdaq futures are down 1.0% on the day.

This article was written by Justin Low at investinglive.com.