US President Trump has threatened to ramp up US tariffs on Chinese goods by this Friday as a result of the slow progress in current negotiations. US indices are facing hefty losses this morning as the strong US jobs report on Friday is quickly forgotten.

US30USD Daily Chart

Source: OANDA fxTrade

The US30 index has wiped out all of last Friday’s gains and has touched the lowest since April 1 after the Trump tweet

The index has traded below the 55-day moving average at 26,046 for the first time since January 23. The next possible support point could be the 200-day moving average at 25,390

The US economy added 263,000 jobs in April, well above forecasts of a 185.000

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