European bourses were soaring higher in the morning in the aftermath of stronger than expected macroeconomic data but this mood was quickly soured by president Donald Trump who lashed out at Brazil and Argentina accusing them of currency manipulation and pledged to restore tariffs on steel and aluminum on those countries. Trump also praised China tariffs effectively dampening trade deal hopes. That means DE30 once again failed to successfully break the 13300 resistance and has returned close to the 13100 support. Traders await the ISM report from the US economy (3pm GMT) but it seems that trade news is what matters most.
European markets tank of Trump tweets
Dec 2, 2019