Global trade tensions likely to deepen

There are three important central bank policy statements scheduled this week and all will be read with great care

Global cues and macro-economic updates will give traders plenty of cause for thought this week. US President Donald Trump walking out of the G7 meeting makes an escalation of trade tensions highly probable. Trump’s summit meeting with North Korea’s Kim Jong Un could also have some sort of impact. There’s also the Brexit Bill due for voting this week and that will shape the United Kingdom’s economic future, and, by extension, affect the EU's growth prospects.

Apart from this, there are three important central bank policy statements this week. The Federal Reserve is expected to make a bullish statement and