Financial market participants keep evaluating the results of the G20 summit. The warnings of the trade war are now unfounded due to Donald Trump’s and Xi Jinping’s agreement not to introduce additional fees during the next 90 days of the truce. The demand for risky assets is up. The USD index (#DX) started to descend.
An array of important economic reports was published in EU, UK, and the US. The Industrial PMI in Germany reached 51.8 instead of the expected 51.6. The Industrial PMI for the UK grew to 53.1 instead of 51.6. The Industrial PMI for the US, published by ISM, reached 59.3 instead of 57.6. The Reserve Bank of Australia today released a resolution regarding the key interest rate, which remained 1.50%.
The prices on oil keep recovering. The WTI futures are trading at 53.70 USD/barrel.
Market Indicators
- The US stock market is showing some aggressive purchases: #SPY (+1,32%), #DIA (+1,26%), #QQQ (+1,75%).
- The 10-year US government bonds yield lowered significantly and now is at 2.95-2.96%.
The Economic News Feed for 04.12.2018:
- Construction PMI (UK) – 11:30 (GMT+2:00).
- Also, keep an eye on the statements made by the Head of the Bank of England Mark Carney.
