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14.11 - did impeachment hearings influence dollar?

5.04.2019

The situation in the world is shifting bit by bit. Although today it is hard to say as most of the major names in the markets are keeping on with the movements and directions that they have been with since yesterday. For example, Chinese markets are still falling, and today it is not because of unrests in Hong Kong.

Chinese markets have nothing else to do and Chinese investors would be right to pull their money away from the segment as Chinese economy is showing signs of having slowed down in October, which is of course is the echo of trade tariffs. But that is not all. It seems that right now is the perfect time for Trump to lift tariffs from China. Why?

Well, because right now China is under a threat of even more tariffs hitting it. And in case that happens after all, American and world consumers are going to be hit right before Christmas – in the high shopping season. And I can guess that consumers are not going to withstand high prices. They are simply going to spend less which is going to result in lower profit for all of the big companies. This means that the stock market is under a threat.

USA are in the center of our attention as well. This night marked the start of public hearing on the matter of impeachment of Donald Trump. People, who have already testified behind closed doors are now publically telling their testimonies. And it doesn’t seem that matters look good for Trump.

With scenario like that, one would think that investors are going to run from the greenback, but that is not the case as American currency is saved by its status as safe haven. But it seems that yen is a winner today with Japanese currency’s growth not being interrupted even when USD is gaining.

Here are all the major shifts in the markets today.

Topix lost 0.8 percent.

Kospi recovered 0.25 percent.

Shanghai Composite grew 0.3 percent.

Hang Seng from Hong Kong shed 0.8 percent.

S&P 500 futures dropped 0.15 percent.

Euro dropped 0.2 percent - $1.0996.

Pound lost 0.2 percent - $1.2826.

Yen grew 0.3 percent – 108.7 per dollar.

Canadian dollar lost 0.1 percent - $1.3259.

Tesla lost 1.1 percent - $346.11.

Apple recovered 1 percent - $264.47.

Facebook lost 0.7 percent – $193.19.

Amazon decreased 0.4 percent - $1753.11 per share.

Google was barely moved - $1298.

WTI recovered 0.7 percent - $57.52 per barrel.

Brent increased 0.7 percent - $62.78 per barrel.

Gold grew 0.2 percent - $1466.4 per ounce.

Silver added 0.4 percent - $16.98 per ounce.

Platinum was barely moved– $875.19.