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In the major news overnight, the Chinese Ministry of Commerce announced 25% tariffs on $16 billion worth of U.S. goods on Wednesday. The 333 goods being targeted by China included vehicles, fuels and the fiber optical cables. Vehicles such as large passenger cars and motorcycles were on the list. China’s announcement came after the U.S. Trade Representative’s office released a finalized list of $16 billion worth of Chinese goods that will be hit with tariffs. Nasdaq 100 Futures was trading flat at 7475.50 at the time of writing. S&P500 and Dow Jones Futures fell to 2856.75 and 25539 respectively at the time of writing.

European stocks hovered around the flatline on Thursday amid a deepening U.S.-China trade dispute and a flurry of corporate earnings. Germany’s DAX 30 edged down 0.31%, FTSE 100 fell 0.77% to 7715.25 and CAC 40 inched down 0.40% at the time of writing. The pan-European Stoxx 600 was flat with almost every sector in the red. Oil and gas stocks were among the worst performers in early deals, amid growing geopolitical tensions. Adidas was up by more than 7 percent after reporting its latest earnings. Adidas showed stronger-than-anticipated second-quarter net profit, despite taking an impairment charge on its struggling Reebok brand. Pandora shares were also up by about 3 percent after its CEO, Anders Colding Friis, announced he is leaving his position.

Asian Markets traded mostly higher on Thursday. China’s Shanghai Composite index rose 1.83% to close at 2794.38. On Wednesday, Chinese data showed the country’s exports for July rose 12.2% on-year, beating market expectations for a 10% growth. Hang Seng closed up 0.88% .The Nikkei 225 inched down 0.20% to close at 22598.39.Major automakers declined with shares of Toyota down 1.01%, Nissan lower by 0.8% and Honda off by 1.2%. Those declines followed reports that the automakers conducted improper fuel and emissions tests on their vehicles, according to Japan’s transport ministry. South Korean Kospi Composite index rose by 0.10%. The Australian ASX 200 inched up 0.47%.

US Dollar Index futures rose by 0.12% to 95.06 .The Euro fell to $1.15935 while the Dollar rose against the Yen to reach the 111.100 level and the Australian Dollar fell to $0.74215 at the time of writing. The Japanese yen rose broadly on Thursday in an apparent reflection of concern among investors about an uptick in geopolitic tensions from the U.S.-China trade war to Brexit.

Gold was trading flat at $1213.47, Silver futures rose to $15.404 and Crude oil was trading flat at $66.83 at the time of writing. A row over human rights in Saudi Arabia will not have any impact on Saudi oil supplies to Canada, its energy minister said on Thursday, reassuring customers after Riyadh froze new trade with Canada and ruled out mediation efforts.

Ethereum rose to 350.36, Ripple edged up to 0.3342 and Bitcoin inched up to 6299 at the time of writing. The U.S. Securities and Exchange Commission (SEC) is set to make final decisions on nine proposed bitcoin exchange-traded funds (ETFs) in the next two months. Combined with past submissions from firms ProShares, Direxion and GraniteShares, a total of 10 bitcoin-related funds are being weighed by SEC officials, according to public records and the VanEck/SolidX bitcoin ETF is the only “physical” ETF among all the proposals.

 

TECHNICAL SUMMARY

 

EUR/USD

TRADE SUGGESTION- SELL AT: 1.16045 TAKE PROFIT AT: 1.15775  STOP LOSS AT: 1.16180

 

AUD/USD

TRADE SUGGESTION- BUY AT: 0.74115 TAKE PROFIT AT: 0.74315  STOP LOSS AT: 0.74015

 

USD/JPY

TRADE SUGGESTION-SELL AT: 111.175 TAKE PROFIT AT: 110.925  STOP LOSS AT: 111.300

 

GBP/JPY

TRADE SUGGESTION-SELL AT: 143.380 TAKE PROFIT AT: 142.480  STOP LOSS AT: 143.880

 

GOLD

TRADE SUGGESTION- SELL AT: 1214.00 TAKE PROFIT AT: 1209.00  STOP LOSS AT: 1216.50

 

SILVER

TRADE SUGGESTION- SELL AT: 15.500 TAKE PROFIT AT: 15.400  STOP LOSS AT: 15.550

 

S&P 500

TRADE SUGGESTION- BUY AT: 2854 TAKE PROFIT AT: 2859 STOP LOSS: 2851

 

RIPPLE

TRADE SUGGESTION- SELL AT: 0.3570 TAKE PROFIT AT: 0.3280  STOP LOSS AT: 0.3720