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21.10 - Brexit deal failed to pass MP vote

13.03.2019

 

Asian markets are only living with the help of hope that trade talks are going to bare some fruit eventually. This means that traders, hoping for the best are only pouring money into the Asian segment and seeing it grow due to the rising demand, but whether this is going to lead somewhere really profitable, remains to be seen. After all, we are only waiting for some news here.

And plus, we have other segments of the market and other news to focus on. For example, failed attempt of Boris Johnsons to push through a Brexit deal with his first try. It failed miserably, by the way, which explains today’s very downbeat performance of pound – traders and investors are getting tired of waiting for something good to happen here and that is why the prefer to flee to some other assets or even pother segments of the market – the wait is too much to bare.

Is the situation different with other currencies? Not really. Currency market is still with not much happening. Frankly, it is better this way. At least we are not going to waste our time, paying attention to assets that is not going to bring us winnings in the end. We can focus, for example on precious metals – a segment that we can see growing today. Is it because of traders seeking safe havens? Most likely.

Where are we not going to see profit? For example, American stock market. Uncertainty of trade talks doesn’t really make them the best candidates for buying now. See for yourself – when Trump imposed tariffs American companies like Apple – the production of which was tied to China – started to feel the pressure and lose investors. And now when we borderline have a trade deal, it is natural that we are going to be cautious.

Here are the main numbers for the beginning of the week:

Topix added 0.4 percent.

Kospi surged 0.1 percent.

Shanghai Composite decreased 0.4 percent.

Hang Seng from Hong Kong was barely changed.

S&P 500 futures advanced 0.15 percent.

Euro is flat - $1.1154.

Pound dropped 0.3 percent - $1.2904.

Yen was still – 108.48 per dollar.

Canadian dollar barely moved - $1.3133.

Apple added 0.5 percent - $236.41.

Facebook declined 2.4 percent – $185.85.

Amazon dropped 1.7 percent - $1757.51 per share.

Tesla lost 1.9 percent - $256.95.

Google dropped 0.7 percent - $1244.41.

WTI slipped 0.3 percent - $53.61 per barrel.

Brent dropped 0.4 percent - $59.19 per barrel.

Gold added 0.1 percent - $1496 per ounce.

Silver surged 0.9 percent - $17.73 per ounce.

Platinum grew 0.5 percent – $894.75.