US-China Trade Headlines Drive Markets

 

Markets are driven by trade headlines of the ongoing US-China negotiations. This time, a bid tone strengthened, making the stocks and futures to recover some losses. Bloomberg reported that the US is planning to enter into a currency agreement with China, which could pave the way for broader negotiations. Further, the New York Times reported that the Trump administration is planning to issue licenses that would allow some US companies to supply products to China’s Huawei.

After having losses yesterday, the US dollar gained due to the rising optimism of a positive outcome at the US-China trade talks starting today. Overnight, the FOMC meeting minutes almost went unnoticed. Chief Powell said that the Fed will soon start expanding its balance sheet again. He noted that he hadn’t ruled out another interest rate cut this year but stressed that the Fed would be data-led. The general view that the US economy is doing well while headwinds come from abroad prevails. Consumer Price Index (CPI) figures for September will be closely watched later today.

In the Brexit front, UK Prime Minister Boris Johnson and his Irish counterpart Leo Varadkar will meet later today to try to find a solution that keeps the Irish border open while taking the UK out of the single market and the EU. The market is fully focused on Brexit and will likely ignore the UK GDP figures since investors are more worried about a disorderly no-deal Brexit.

NOTE: Traders are advised to be cautious and be updated on the major economic news causing high volatility to achieve better trading results.


Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. The Bullfx (thebullfx), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Post categories

 

Symbol Bid Ask Spread
EURUSD 1.11195 1.11212 1.7
GBPUSD 1.29361 1.29389 2.8
USDCAD 1.31619 1.31638 1.9
USDJPY 108.782 108.800 1.8
USDCHF 0.99289 0.99310 2.1
AUDUSD 0.68255 0.68274 1.9
NZDUSD 0.63297 0.63320 2.3
EURGBP 0.85945 0.85966 2.1
EURCHF 1.10417 1.10437 2
EURJPY 120.974 120.991 1.7
AUDJPY 74.256 74.276 2
GBPJPY 140.737 140.767 3
USDSGD 1.36451 1.36472 2.1
XAUUSD 1485.48 1485.75 27
XAGUSD 17.415 17.442 2.7

The above live prices are provided solely for informational purposes, not for trading purposes, and may be delayed.

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