Good morning all,
Equity markets have suffered losses for the second day in a row both in the European and US markets. Selling pressure has increased in the equity market after Trump's comments about tariffs against French products (as a provocative response to the internet taxation) and,especially, hints that the US is no hurry to conclude the US-China trade deal (possibly postponing it after the 2020 elections).
While USD was weakening, UK FTSE was one of the biggest losers, sinking 1.8%. The US indices set off some of their early losses. They started the spot session with (more than 1% down). (all in line with our yesterday post).
As said, the US dollar lost ground against AUD and GBP. However, it is close to ST important levels. Today, it is showing some signs of recovery.
VIX jumped by almost 10%. NATGAS and CrudeOil continued their difficult recovery after Friday sell off. Also GOLD is showing some strength, but it is trading still below 1.500.
ECONOMICS DATA
IT, FR, SP, GE, EU, UK Markit PMI 08.15 / 9.30 GmtUS ADP Employment change 13.15 GmtUS Markit PMI 14.45 GmtUS ISM NON MANUFACTURING 15.00 GmtEIA Crude Oil stocks Change 15.30 GmtOVERNIGHT
Asian equity markets extended losses as global risk appetite remained sapped by the turbulent trade climateStrong Chinese Caixin Services and Composite PMI numbers added to the country's recent flurry of strong activity dataGoogle founders Larry Page and Sergey Brin are stepping down as leaders of parent group Alphabet Inc.The global banking sector has now cut more than 75,000 jobs this year, with the vast majority of them in EuropeStay Safe