The much-expected US tariffs will be announced in a few hours and they will take immediate effect [Video]

The much-expected US tariffs will be announced in a few hours and they will take immediate effect, according to the latest news.

Yesterday’s ISM data confirmed that the US manufacturing activity slowed, new orders tanked, employment softened while the prices-paid showed a steep jump – steeper than expected by analysts. The unideal data didn’t trigger a further selloff in US equities, however. On the contrary, the S&P500 ended a jiggly session 0.38% higher, as the yields retreated – meaning that investors put more weight on the rising recession bets than they did on the rising price pressures. But appetite remains fragile and investors show increased appetite for bonds – and that despite the expectation of further rise in global debt levels.

In the FX, the US dollar is slightly better bid, the euro and sterling are pressured on tariff uncertainty. Gold continues to be the safest play in town when it comes to the tariff uncertainty.