30.08 - USD grows and grows despite the trade war
There is a little bit of very important information on the trade war – a topic that is always stirring up our trading and can reverse the direction of the assets in a second. It seems that despite having imposed tariffs on USA, China is not going to respond immediately to a possible American answer. This information only added to the positive traders’ outlook on Asian economy. That is exactly why we can see the growth and recovery in Asian performance today.
In the meantime, dollar is not seen as a participant of the conflict today, as its status of a safe haven saves it from dropping from its high horse this week. That is right. Ever since Monday the greenback has been growing with almost no retracements. It is a perfect performance that brought the greenback to the highest point in more than 2 years. Cool, right?
Of course, this means that other currencies are not going to have the possibility to recover. For example, pound. After the British Parliament was stopped from working by the Queen GBP took a fall and its only chance to recover was not to have USD growing. But, alas! We are seeing exactly that. The same is happening with euro as well.
Of course such confidence in American economy is only getting more and more attention for American stock market. Major players there have all the possibility in the world to grow – a possibility taken by them at once.
We wish gold could do the same. Precious metals are more on the mixed side right now. And while the dollar is growing, they are going to keep on falling harder and harder.
Here are the numbers for the end of the week:
Topix added 1.4 percent.
Kospi advanced 1.7 percent.
Shanghai Composite increased 0.3 percent.
Hang Seng from Hong Kong grew 0.5 percent.
S&P 500 futures grew 0.1 percent.
Dollar was barely changed against the basket of six major currencies but it is still stansing at the highest point since May, 2017.
Euro costs $1.1045 after having lost 0.1 percent.
Pound barely changed - $1.2177.
Yen is at 106.37 per dollar point after having risen 0.1 percent.
Apple added 1.7 percent - $209.01.
Facebook increased 2.1 percent – $185.57.
Amazon grew 1.3 percent - $1786.4 per share.
Tesla increased 2.8 percent - $221.71.
Google shares rose 1.75 percent - $1194.24.
WTI lost 0.3 percent - $56.53 per barrel.
Brent was hardly changed - $61.09 per barrel.
Gold dropped a little bit - $1536.5 per ounce.
Silver added 0.4 percent - $18.4 per ounce.
Platinum grew 0.4 percent – $920.6.