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20.09 - trade talks are finally resumed

6.03.2019

 

The situation in the markets is getting more and more volatile. We long for the days when the advances and falls were not nearly as rapid as what we have seen this week and continue seeing today. After all, deputies from China and USA have resumed face-to-face talks on the trade deal which means that for the time being Chinese and Asian markets are not nearly as dangerous as we would think them to be.

For the first time in almost two months we see the real progress on the promised to us trade talks. Does this means that the two countries can count on resolving their differences and work together for the greater good of the whole world? Probably, but we need to wait a bit longer to see the real results of the talks.

In the meantime, we all are watching American economic data. It seems that despite all of the bumps that American economy might come across, it still manages to display moderate growth against its peers. It also seems that the joblessness data is on the lowest level in 5 years which means the real boom of employment and a result, tax returns for the future. But unfortunately USD doesn’t exactly respond to the data the way it was supposed to. The greenback is still showing signs of decline against major peers today.

And the decline lets other currencies grow. Euro and pound are gaining against American currency and even yen is growing.

Oil has finally renewed the pace taken by it in the beginning of the week – addition to the price. After having started the week on a very high note, the crude failed to recover it for the rest of our trading, but today we see tension in the Middle East only building up which means that there are once again fears for the future of crude supply. That inevitably drives per-barrel price for both of the major name higher today. Watch out for CAD growth.

American stock market is responding pretty well to the news of economic growth and is gaining with major names growing and adding price.

Here are the numbers for today:

Topix was flat.

Kospi advanced 0.5 percent.

Shanghai Composite grew 0.15 percent.

Hang Seng from Hong Kong barely moved.

S&P 500 futures advanced by a little nudge.

Dollar dropped 0.1 percent against the basket of six major currencies.

Euro added 0.1 percent - $1.1054.

Yen rose 0.1 percent – 107.85 per dollar.

Pound advanced 0.4 percent - $1.2575.

Apple dropped 0.8 percent - $220.96.

Facebook grew 1.1 percent – $190.14.

Amazon increased 0.2 percent - $1821.5 per share.

Tesla added 1.3 percent - $246.6.

Google shares grew 0.5 percent - $1238.75.

WTI advanced 0.95 percent - $58.68 per barrel.

Brent grew 0.6 percent - $64.78 per barrel.

Gold advanced 0.5 percent - $1513.9 per ounce.

Silver added 0.8 percent - $18.03 per ounce.

Platinum increased per-ounce price by 0.7 percent – $944.95.