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Germany Warn Trump Tariff Moves Threaten Global Trade - DAX Trading Sideways -

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    • Germany Warn Trump Tariff Moves Threaten Global Trade – DAX Trading Sideways
Mar, 12th 13:25

Germany denounced moves by President Donald Trump to impose tariffs on U.S. metal imports, saying Europe needed a united response to the threat and echoing criticism from China that it risked undermining the global trade system.

“Trump’s policies are putting the order of a free global economy at risk,” German Economy Minister Brigitte Zypries told Reuters on Sunday in an emailed statement.

“He does not want to understand its architecture, which is based on a rule-based system of open markets. Anyone, who is questioning this, is jeopardizing prosperity, growth, and employment.”

Europe is the biggest exporter of steel to the United States, accounting for nearly 5 million tonnes of total annual imports of about 35 million, and Brussels has warned Trump it would impose countermeasures if hit.

But the European Union and Japan on Saturday urged the United States to grant them exemptions, with Tokyo calling for “calm-headed behavior”.

European markets are higher today with shares in Germany leading the region. The DAX is up 0.57%

The Deutsche bank said on Sunday its 2017 bonus pool would be above 2 billion euros ($2.46 billion), as the loss-making bank seeks to retain staff during a major overhaul. But the bank’s top managers are foregoing their annual bonuses.

Deutsche Bank set the price range for the planned initial public offering of its asset management unit on Sunday, valuing the division at up to 7.2 billion euros ($8.86 billion).

On the technical charts, DAX 30 is trading sideways and below all the moving averages (9 day, 20 day, 50 day, 100 day, and 200 day). The RSI is at 48.35 and the MACD is above the signal line.

Trade suggestion:

Buy digital Call options between 12474 and 12500, valid until 23:00 GMT March 12, 2018