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Analysts at Danske Bank point out that in his speech in the UN yesterday, US President Donald  Trump lashed out at China again with no sign of any respite in the trade war.

Key Quotes

“We see a high risk Trump will soon announce tariffs on the rest of imports from China. When he announced the tariffs on another USD200bn he  stated  that the US would immediately move on with tariffs on another USD267bn if China retaliated – which it did.”

“In his UN speech, Trump also accused OPEC of ‘ripping off the world’, taking aim at Saudi Arabia for keeping oil production too tight. Oil prices came off slightly, as Trump said the US would not put up with it ‘much longer’.”

“In Asian hours, Chinese stock markets have continued the rally seen over the past week  despite the tough talk from Trump. US bond yields and EUR/USD are slightly lower.”