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11.11 - trade talks' job might be undone by protests



The beginning of the week in marked by a slow day as there are too many holidays in important trading countries. Traders are not going to be active in France, Canada and USA all day today, which means that we are not going to see a lion share of activity in the markets today. But, this also means that we are going to have the time to focus on the currencies and assets far away from EUR, CAD and USD.

We can, for example, open our eyes to the problems of Hong Kong, where freshly broken-out wave of violence has shaken Chinese and Asian indices and stocks. Investors worry that the newly emerged wave of sentiment is here to stay which means that all of work done by trade talks can be undone by the protests in Hong Kong.

Bank of Japan, in its turn is thinking on whether the economy and the currency of the country are going to need stimulus in case inflation rate jumps higher. Of course, any kind of stimulus would mean that traders are going to get scared away, as any kind of stimulus is usually viewed as a sign of weakness and trouble for the currency. Safe havens do not need this kind of trouble right now.

There are little changes in the currency market. Euro and pound see little shifts since the markets have been opened. Dollar is also not seeing any great changes, although it is clear that the greenback is not going to live its best day today. With its rivals such as euro, pound and gold growing, it is easy to see that USD is a little bit in the red zone for today.

Oil is slipping just like in the end of last week. Seems that the crudes are going to need stimulus in order to start gaining price soon, otherwise it is not going to happen at all.

Here are the major numbers for today:

Topix was barely changed.

Kospi dropped 0.15 percent.

Shanghai Composite dropped 1.4 percent.

Hang Seng from Hong Kong declined 2.5 percent.

S&P 500 futures shrank by 0.3 percent.

Euro was barely moved - $1.1024.

Pound was unchanged - $1.2798.

Yen grew 0.2 percent – 108.96 per dollar.

Canadian dollar recovered 0.1 percent - $1.323.

Tesla grew 0.5 percent - $337.14.

Apple added 0.3 percent - $260.14.

Facebook increased 0.2 percent – $190.84.

Amazon lost 0.1 percent - $1785.88 per share.

Google added 0.2 percent - $1311.37.

WTI declined by 0.9 percent - $56.74 per barrel.

Brent lost 0.9 percent - $61.94 per barrel.

Gold added a little it to the price - $1463.1 per ounce.

Silver dropped 0.1 percent - $16.81 per ounce.

Platinum declined 0.05 percent– $886.77.