China announces counter-tariffs against Trump’s trade moves

• Additional 10% tariffs will be imposed on crude oil, farm equipment, and some autos
• New tariffs to go into effect on 10 February

At the same time, they’re also announcing that export controls will be implemented on tungsten, tellurium, bismuth, molybdenum, and indium-related materials. These ones will go into effect starting from today. The risk mood is getting hit by the headlines here with S&P 500 futures down 0.2% and AUD/USD is dipping lower, down 0.7% to 0.6180 on the day.

This article was written by Justin Low at www.forexlive.com.