26.12 - trading is tough and slow right now
Post-Christmas haze is still flying around in the markets. And we can still feel it just by the small amount of traders in the markets. Yes. There are very little tradersand the major currencies and indices are barely moving today. And it is just how it is going to be until January 2, when all of traders are expected to come back after all the holidays go by.
But, not the entire world is celebrating these days. There is China, for example – a country where there is no traditional Christmas and New Year is celebrated in February. Of course, people there are still trading and are still moving the markets. And the Chinese have a lot of eyes on them just because of the trade deal. It is very important that US and China see the deal through right now. Otherwise all of the effort that was put into it is just going to be wasted.
Plus, we are already counting on the trade deal to be signed, as a lot of things depend on it. And there are already certain agreements in place. They are going to be broken in case the deal is not signed and that is going to bring even more turbulence into global trading. Will we be able to withstand such pressure? Well, that remains to be see. But we still hope that the signing is going to take place.
Until traders come back we can be sure in one thing – safe havens are going to keep on growing. And precious metals’ performance in the perfect example for this. Gold and silver have been surging for several days in a row with the latter really enjoying the attention given to it.
Oil is growing as well these days as oil-producing countries have agreed to cut oil output. Of course, trade deal is supporting the growth as well. The climate in commodities segment is just perfect right now.
Here are the post-Christmas changes.
Topix grew 0.4 percent.
Kospi increased 0.1 percent.
Shanghai Composite added 0.3 percent.
Hang Seng from Hong Kong decreased 0.15 percent
S&P 500 increased 0.1 percent.
Dow Jones dropped 0.1 percent.
Euro is flat - $1.1088.
Pound recovered 0.4 percent - $1.2987.
Yen decreased 0.2 – 109.55 per dollar.
Canadian was barely changed - $1.3153.
Tesla added 1.4 percent - $425.25.
Apple grew 0.1 percent - $284.27.
Facebook lost 0.5 percent – $205.12.
Amazon dropped 0.2 percent - $1789.21 per share.
Google dropped 0.5 percent - $1344.43.
WTI surged 0.8 percent - $61.09 per barrel.
Brent grew 0.3 percent - $67.42 per barrel.
Gold grew 0.3 percent - $1503.4 per ounce.
Silver increased 1.1 percent - $17.96 per ounce.
Platinum added 0.5 percent – $947.