Stocks: Mild risk-off tone prevailed amid profit-taking after the S&P 500 yesterday hit a new record high before quickly easing back as Donald Trump disappointed prior expectations by providing no fresh news regarding the US-China trade situation. The US President merely suggested that a phase one deal “could” happen soon and that China wanted it so badly. Sentiment is also hurt by falls in Asian markets due to ongoing tensions in Hong Kong where anti-government protesters have changed tactics to disrupt the city’s transportation system on weekdays. At midday in London, European stocks and US index futures were lower.
FX: Thanks to the pullback in equity markets, safe-haven JPY and CHF were higher, only bettered by RBNZ-driven NZD, while other commodity dollars such as the AUD and CAD brought up the rear. Bitcoin was continuing to coil inside a falling wedge technical pattern.
Data recap:
Up Next:
Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.