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European stocks opened slightly lower on Friday as investors worried about the impact of trade wars

2018-08-10 08:09 am | Resource: NEWS | No Views : 152

European stocks open slightly lower on Friday as investors worried about the impact of trade wars and sanctions on Russia.

Asian markets are trading lower on concern that trade tariffs will destroy trade between the world's two largest economies.

The second tranche of tariffs, which will take effect from August 23, will come in the first tranche of tariffs on the $ 34 billion of Chinese imports that went into effect on July 6.

The yen rose against the dollar after data showed the country's economy grew more-than-expected in the second quarter, driven by increased consumer spending and corporate investment.

The yen maintained its stability against the euro while oil rose on expectations that the recent US sanctions on Iran would tighten supplies.

The pound fell at its lowest level against the dollar and the euro in about a year after a survey showed more people were backing a second referendum on Britain's exit from the EU if talks with Brussels collapsed.

Overnight, US stocks closed mixed for a second consecutive session as investors weighed on fears of a continuing trade war against corporate earnings news that is largely optimistic.

The Dow fell 0.3 percent and the S & P 500 fell 0.1 percent, while the Nasdaq Composite Index rose sharply.

European markets ended a mixed session on Thursday after they faced difficulties earlier in the day as China imposed retaliatory tariffs on US goods.

The European Stoxx 600 index rose 0.1 percent. Germany's DAX rose 0.3%, France's CAC 40 fell marginally while the FTSE 100  fell 0.5%

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Time frame Used - four hours The NASDAQ 100 is moving in a sideway direction in the near term. The NASDAQ 100 still faces resistance and selling pressure around the 7054 level forming a technical pattern called a rising wedge. In view of the technical indicators Both the RSI and the Stochastic are indicating a negative divergence between the RSI and the RSI as the Stochastic indicates that the indicator…

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