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13.11 - markets unrest as trade deal is pushed further away from us



Yesterday’s speech of Donald Trump was a real hit with the traders. After all, not every day American President shatters your hopes for better earnings and better trading. Markets have been very strained lately and traders have been on edge, waiting for some news from the American side of the deal. Now we wish we hadn’t heard anything at all. Trump stated that the deal is closed, but he offered no details about the possible signing of the deal, which might mean that it is either a secret or we are pretty far away from the deal altogether.

In any case, whatever the scenario here, we are still dealing with the Asian market that are losing traders and investors today. We now understand that Asia is not safe once again – that resulted in the selloff of Asian and Chinese major names. Of course further unrests in Hong Kong have also played their role in today’s very bad performance of Asian segment of the market.

This news couldn’t help but drive safe havens higher. Although USD is not that changed for today, we can see that Japanese yen has gained some weight despite the fact that euro and pound are displaying all signs of a very strong dollar. What does this mean? I would say that this means that today traders have absolutely no hunger for risks – there is plenty of risks in the markets as it is today.

American stock market is doing just fine, on the other hand. Aside from a small decline in Apple, all of the other major names are climbing higher and higher, which means that this trading deal disappointment didn’t really do anything for them. Well, the companies the profit of which is tied to production in China might take a small hit today, but overall, this should not affect Americans a lot.

Oil is losing once again, precious metals are growing, which further proofs that traders today want to trade with safe havens more than in any other day for the last couple of weeks.

Here are the changes for today:

Topix lost 0.4 percent.

Kospi decreased 0.9 percent.

Shanghai Composite declined 0.6 percent.

Hang Seng from Hong Kong shed 2.1 percent.

S&P 500 futures dropped 0.3 percent.

Euro dropped 0.2 percent - $1.1013.

Pound lost 0.1 percent - $1.2845.

Yen grew 0.2 percent – 109.04 per dollar.

Canadian dollar added 0.1 percent - $1.3247.

Tesla grew 1.4 percent - $349.93.

Apple declined 0.1 percent - $261.96.

Facebook grew 2.6 percent – $194.47.

Amazon added 0.4 percent - $1778 per share.

Google was barely moved - $1298.8.

WTI dropped 0.4 percent - $56.55 per barrel.

Brent decreased 0.5 percent - $61.74 per barrel.

Gold grew 0.6 percent - $1462.1 per ounce.

Silver added 1.2 percent - $16.89 per ounce.

Platinum grew 0.6 percent– $874.85.