The markets opened on Monday to the news over the weekend about the U.S. President Trump announcing fresh tariffs on China. The Trump administration imposed a 25% tariff on about $50 billion on goods imported from China in response to alleged theft on intellectual property rights.
China retaliated by announcing that it would respond with the same measure, scale and strength, worsening trade concerns.
On the economic front, data from Friday showed that the Eurozone’s final inflation was confirmed at 1.9% while core inflation increased 1.1%. The euro was seen attempting to make a recovery after Thursday’s sell off.
Looking ahead, the economic calendar for the day is light. However, a number of central bank speeches are scheduled. It includes speeches from the FOMC members Bostic and Williams and the ECB’s Mario Draghi.
