Trading plan 07/02/2018

Trading plan 07/02/2018

The general picture: Trump, trade wars and the crisis in Germany.

Two main topics for the market right now. The first is Trump's trade war. China's retaliatory tariffs against goods from the United States - agricultural products and cars - entered into force, with the amount of 34 billion dollars. Trump at that time introduces duties against the import of cars from the EU.The Trump administration official talk about the negotiations on duties - but so far there are no signals about the truce - the war continues.

In the government of Merkel - there is a threat of a split in the coalition because of the issue of migrants. The decisions of the EU summit on migrants have been criticized by the Merkel allies (CSU party, Bavaria) as clearly insufficient. The crisis can lead to the collapse of the coalition and early elections.

GBPUSD: Buy from 1.3220

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