US President Donald Trump: Signed executive order to hold China accountable for its actions against Hong Kong

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US President Donald Trump is hosting a news conference, citing two administration officials, Reuters reported that Trump’s remarks would be related to Hong Kong and China.

He was expected to sign the Hong Kong legislation. He has done just that.

He signed legislation and an executive order to hold China accountable for its actions against Hong Kong.

Key points

  • Trump says Hong Kong’s people’s freedom has been taken away.
  • Trump says he signed executive order ending preferential treatment for Hong Kong.
  • Trump says he has convinced many countries not to use Huawei.
  • Trump says he holds china fully responsible for concealing the coronavirus and unleashing it on the world.

More to come…

Market implications

The yen, AUD, USD and global equities are all tied up into this. 

Key notes:

  • S&P 500 Index bull-trap set-off, drops into the bear’s lair as bank’s earnings get underway
  • S&P 500 Index Forecast: Bank’s earnings in focus, COVID-19 induced insolvency fears simmer away
  • USD/JPY: Bears eye 61.8% Fib, but H&S could be in the making first
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