April 11, 2018 / 7:33 AM / in 6 months

Daily Briefing: Trump, Syria and central banks give markets plenty to digest

LONDON (Reuters) - Trade wars, economic slowdown, central banks, the threat of air strikes over Syria, Russia, FBI raids on Trump’s attorney... the list of things giving markets pause goes on.

U.S. President Donald Trump welcomes the 2017 NCAA Football National Champions, The Alabama Crimson Tide, during an event at the South Lawn of the White House, April 10, 2018

All these have again helped deflate world stocks, which are flat today after Tuesday’s 1.3 percent jump. New York is set to open half a percent lower.

In China, data showed factory gate prices and CPI both slowed in March from the sugar rush of Lunar New year in February, stoking fears of the impact of trade wars on the world’s No. 2 economy.

The former fell to 17-month lows and has slowed for five straight months. Still, a pledge to open up the mainland financial sector further to foreign investment is supporting sentiment somewhat helping lift the yuan to one-week highs while mainland and Hong Kong stocks are both up around half a percent.

The dollar meanwhile is flat, just off two-week lows against a basket of currencies, while the euro is a touch firmer after hitting two week highs to the dollar. Fed minutes are due tonight as is March U.S. inflation, which could impact the Treasury curve, where the 5-30 segment hit its flattest since Dec 2011 on Tuesday.

Broadly though, despite the political risks, Treasury and Bund yields are down on the day. Sterling is at a two-week high against the dollar after a Reuters BoE interview and could find further direction after today’s data on trade, industrial output and retail sales.

HEADLINES

United States Ambassador to the United Nations Nikki Haley addresses the United Nations Security Council meeting on Syria at the U.N. headquarters in New York, U.S., April 9, 2018

Eurocontrol warns airlines of possible missile strikes into Syria

As Trump fumes over FBI raid, White House lawyers urge restraint

IMF chief optimistic on growth, but warns against trade protectionism

Zuckerberg resists effort by U.S. senators to commit him to regulation

Tesco shines in home market, beats annual profit forecast

Hammerson advises shareholders to reject new 5 billion pound Klepierre bid

Air France tells striking unions to talk after doubling pay rise offer

— A look at the day ahead from Deputy EMEA Markets Editor Sujata Rao. The views expressed are her own. —

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