24.09 - are you feeling the calm of the markets?
It seems that American-Chinese relations really do look for improvement as we are waiting for the results of trade talks to come in. But after yesterday’s cancellation of tariffs by USA, today we are learning that China decided not to impose another set of tariffs on some of the American products as well. We hope that this tendency is going to go on with the two countries.
In the meantime, there is a very suspicious calm in the markets right now. Currencies are still with the greenback trying to make sense of what has happened last week. Rate cuts were a real shock to not only the currency but traders as well, but according to recent numbers, this decision is already working for the greater good of the USD. We hope that in future greenback is not going to grow too much and spoil all of our trading.
Feeling this calm, other currencies are still as still, although for euro this is a welcome change. As the worst economic data from Germany in 7 years have dropped the value for the currency yesterday. Today there is a mild recovery for the currency.
Commodities are all in the red zone today. With traders mostly being careful about trading as well as the volatile assets and instruments it is no wonder that interest is lost on gold and oil. Especially given that it is now unclear what is going to happen to oil prices in the nearest future.
Here are the main shifts for today:
Topix added 0.4 percent.
Kospi grew 0.4 percent.
Shanghai Composite surged 0.2 percent.
Hang Seng from Hong Kong increased 0.1 percent.
S&P 500 futures advanced by 0.2 percent.
Dollar was flat against the basket of six major currencies.
Euro barely moved after yesterday’s plunge - $1.099.
Yen displays no rapid changes – 107.53 per dollar.
Pound barely moved - $1.2435.
Apple recovered 0.45 percent - $218.72.
Facebook declined 1.6 percent – $186.82.
Amazon lost 0.5 percent - $1785.3 per share.
Tesla added 0.25 percent - $241.23.
Google shares advanced 0.4 percent - $1234.69.
WTI dropped 0.6 percent - $58.3 per barrel.
Brent lost 0.6 percent - $64.37 per barrel.
Gold decreased 0.2 percent - $1528.9 per ounce.
Silver dropped 0.6 percent - $18.6 per ounce.
Platinum lost 0.7 percent – $952.07.