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Global Bourses Edge Higher on White House Comments

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1. Global Bourses Edge Higher on White House Comments

Global bourses edged higher this Friday morning as traders digested optimistic statements out of the White House of a prospective trade deal between the U.S. and China. Larry Kudlow, the White House economic adviser, claimed on Thursday that phase one of the trade deal was “getting close,”. The markets responded by turning higher this morning even though the Chinese Ministry of Commerce spokesman Gao Feng continued Beijing’s call for a removal of existing tariffs, something that the U.S. has repeatedly refused to do. 

2. Forex Preview: USD Loses Steam

The USD is trading slightly weaker on yields turning lower which could offer interesting re-entries in for example the AUD that has now shown the odds of a new rate cut in early 2020 went up to 70%. The EUR regained the 1.10 level on optimism that Germany did not fall into a recession. Is this enough however to turn the tide? 

3. Oil Prices Recover, Gold Dips 

Oil moved once more above the $57 but came back down on builds on the stocks meaning supply is bigger than demand at the moment. Meanwhile, the US-China Outlook or soft Chinese economic data is not helping oil prices to move decisively higher.  Gold prices fell on increased risk appetite and after Fed president Powell’s comments of a good economy.  

You can find and trade CFDs on all of the above-mentioned assets on BDSwiss Forex/CFD platforms.

Sources:
Investing Nov 15, 2019 7:33 AM ET
Bloomberg Nov 15, 2019 6:45 AM ET
Reuters Nov 15, 2019 05:58 AM ET

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