7.10 - are trade talks bad for us?
Trade talks – is that reasonable to fear them? Well, some traders are sure that trade talks between USA and other countries are something to fear. How so? Well, the current situation in the world is cheering the growth and awakens trade fears which stimulates different branches of trading. But calm in the markets may bring all the growth and stimulus to a swift end. And that is not something that traders around the world are waiting for to happen. So. If you think that trade talks are something to wait for, you are VERY mistaken, according to some.
Of course if trade talks do happen, which is really under doubts right now, you are going to be able to trade in another segment of the market. For example, oil. There, the volatility is not going to go anywhere as long as there are supply talks and fears. And as we can understand these are not going to go anywhere as long as there are different opinions on the future of the commodity and its output.
Elsewhere currency market is trying to wake up from the weekend slumber and make sense of the future week. Only 7 days are left until Brexit and a lot of attention is going to be focused on GBP this week. And it is understandable – this is one of the biggest geopolitical changes in recent history. For future reference, if for no other reason, we need to be on alert of the sudden changes in GBP performance.
American stock market is yet to open for today, but the performance that we saw last week tells us that the more complicated the situation in the world markets is, the worse is the reaction of the segment of the market. It became very sensitive to changes and that can’t help but bring doubts to trading in the segment.
Here are the main shifts for today:
Topix lost 0.1 percent.
Kospi was barely surging.
Shanghai Composite lost 0.9 percent.
Hang Seng from Hong Kong dropped 1.1 percent.
S&P 500 futures dropped 0.4 percent.
Euro was barely changed - $1.0979.
Yen dropped 0.2 percent – 106.86 per dollar.
Pound added 0.1 percent - $1.2322.
Canadian dollar lost 0.1 percent - $1.3323.
Apple grew 2.8 percent - $227.01.
Facebook added 0.6 percent – $180.45.
Amazon recovered 0.9 percent - $1739.65 per share.
Tesla lost 0.7 percent - $231.43.
Google shares increased 1.8 percent - $1210.96.
WTI grew 0.1 percent - $52.87 per barrel.
Brent dropped some points - $58.36 per barrel.
Gold lost 0.1 percent - $1511.5 per ounce.
Silver dropped another 0.2 percent - $17.59 per ounce.
Platinum declined 0.1 percent – $879.08.