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5.09 - trade war might be coming to its resolution



Some good news coming to us from China and US sides – it seems that trade talks are going to happen after all as we are learning that officials of the two sides of trade war are going to meet as early as the beginning of next month. That of course doesn’t lift all the pressure from trading, but it does provide some relief on the matter.

With news like that, US and European futures advanced and Asian stocks experienced the biggest surge since June – this instant effect was felt right after the announcement of the talks. Can you try and imagine what can happen if the negotiations actually happen and if it is successful? Oh, sweet-sweet recovery.

Of course such tendency means that traders had to abandon something, and here is where I have to tell you that USD saw a pretty big outflow of traders from it, which prompted its fall against major peers. Of course – who needs safe havens when risk appetite is growing and the situation is recovering. We only wish for the recovery to last, that is all.

The positive affect of the announcement can also be seen reflected in the performance of American stock market where falls seen yesterday are changed by the overall growth with just a few exceptions.

In the currency market there is only one question today – what is going to happen to pound with all of the political turmoil raised in the UK – Johnsons tries to postpone the present Parliament from working after MPs passed a bill requiring Johnsons to seek the delay of Brexit from Brussels. This decision was met with the statement of the snap elections which didn’t really sit well with MPs. With turbulence like that, falling greenback came just in time to provide GBP with the soil for growth.

Here are the performances for today:

Topix grew 1.9 percent.

Kospi grew 1 percent.

Shanghai Composite added 1.2 percent.

Hang Seng from Hong Kong dropped 0.65 percent.

S&P 500 futures advanced 1 percent.

MSCI Asia Pacific rose 1.3 percent.

Dollar dropped 0.1 percent against the basket of six major currencies.

Pound is at $1.2241 point.

Euro costs $1.103.

Yen is at 106.56 per dollar point after having lost 0.2 percent.

Apple grew 1.7 percent - $209.19.

Facebook added 2.6 percent – $187.14.

Amazon added 0.5 percent - $1800.62 per share.

Tesla declined 1.9 percent - $220.68.

Google shares increased 1 percent - $1182.27.

WTI lost 0.1 percent - $56.22 per barrel.

Brent grew 0.1 percent - $60.75 per barrel.

Gold decreased 0.4 percent - $1553.5 per ounce.

Silver declined 0.1 percent - $19.53 per ounce.

Platinum lost 0.4 percent – $982.33.