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11.12 - USA and NAFTA countries seem to have reached an agreement



Just as we talked about yesterday, next package of American tariffs is getting closer and closer to us. In just 4 days new tariffs from American to China are going to cover a lot of Christmas favorites. This for sure is going to be a problem for American consumers who might not be ready to give more of their hard-earned money from something that takes more to produced or produced in America and thus costs more that the Chinese counterpart.


Obviously, the less American consumers are going to spend during this Christmas season and the more vendors are going to close shop, the worse it is going to turn out for the US economy itself. We have all seen this – USD is very weak right now. In the global currency market even the weakest currencies are finding power to push back on USD. And that is a blow to American economy. Right now, with all political and economic troubles rattling up the world we would be more pleased to see strong USD.


Well, there is still hope. After all, there are other trade partners. And with some of them USA just might come to an agreement. For example, it seems that after years of the talks, USA, Mexico and Canada have come to an agreement to form a new organization instead of NAFTA. These talks have also been going on for a long time now and we are hoping that whatever is going to happen there, it is going to bring prosperity to all of the participate countries.


American stock market and Wall Street are very mixed today. Trade war uncertainty is not really giving investors a lot of room to act and buy, but there are still some trustworthy names. At least, for the time-being.


Commodities are also mixed, with oil slipping once again and precious metals trying to recover lost per-ounce price.


Here is what the markets look like today:  


Topix dropped 0.3 percent.

Kospi lost 0.5 percent.

Shanghai Composite grew 0.3 percent.

Hang Seng from Hong Kong added 0.65 percent

S&P 500 futures was barely moved.

Euro grew 0.2 percent - $1.1088.

Pound dropped 0.1 - $1.3134.

Yen decreased 0.1 percent – 108.75 per dollar.

Canadian dollar wasn’t changed much - $1.3232.

Tesla increased 2.7 percent - $348.84.

Apple recovered 0.6 percent - $268.48.

Facebook lost 0.2 percent – $200.87.

Amazon decreased 0.6 percent - $1739.21 per share.

Google wasn’t changed much - $1342.89.

WTI lost 0.2 percent - $58.92 per barrel.

Brent lost 0.3 percent - $63.94 per barrel.

Gold wasn’t moved much - $1463.5 per ounce.

Silver dropped 0.3 percent - $16.61 per ounce.

Platinum lost 0.4 percent – $918.16.