|Day's Range||21,285.30 - 21,476.14|
|52 Week Range||21,285.30 - 23,890.20|
In the Asian markets, it seems that the recovery rally has exhausted. After two days of growth, Asian markets mixed, returning to the levels of the end of last week. Global stocks mostly higher.
Global stocks trade mostly higher on Tuesday morning following Trump’s 10% tariffs on an additional 200B of Chinese imports.
Europe’s main equity benchmark ends slightly higher Monday as fresh U.S.-China trade worries weigh on investors’ appetite for stocks.
It’s another big week for the markets, with Trump and trade in focus, while the BoE, ECB and Central Bank of Turkey deliver policy decisions.
After a dicey end to the week, central banks, Trump and Trade will be in focus, with economic data to give some idea on the effects of trade tariffs.
European stocks end the session little changed in negative territory on Tuesday, after struggling for direction for much of the day amid trade optimism that boosted the euro to its strongest level against the dollar since July.
European stocks pushed higher on Monday, with gains accelerating in afternoon trade as the U.S. stock market powered higher following an agreement between the U.S. and Mexico on trade issues. Germany’s Ifo report showed stronger-than-expected business confidence, despite the continuing rumblings over trade wars and tariffs with the U.S. Europe’s largest economy is “performing robustly.” The business climate index jumped to 103.8 in August from 101.7 in July and besting a forecast of 101.9.
A busy economic calendar and a plethora of geo-political risks to drive the markets through the week, with the U.S President at the center of it all.
European stocks end the week on a flat note after a closely watched speech by U.S. Federal Reserve Chairman Jerome Powell struck a cautious tone.
European stocks end Thursday trading modestly higher after struggling during the session, as investors attempt to dispel trade-war angst between the U.S. and China and as shares of financials and the pharmaceutical companies weighed on the broader market.
European stocks finish in negative territory Wednesday, with health-care and retail companies weighing on the market. Investors struggle to brush aside fresh trade concerns, which held the broader market in a downdraft.
German stocks finish higher Tuesday, reflecting a broadly upbeat European session, as equities in the region took inspiration from gains across the globe.
European stocks finish firmly higher Friday, as the tech group tracked their U.S. counterparts, following Apple Inc.’s record surge on Thursday, which helped to buoy overall market sentiment.
European stocks finish the session firmly lower Thursday as trade tensions between the U.S. and China appears to be experiencing fresh escalation, with Germany’s main benchmark dragged down by concerns about the impact of tariff action.
European stocks fell largely fell Wednesday, with a new trading month getting under way with a fresh wave of corporate earnings reports and a new risk of increased U.S. tariffs on goods imported from China.
European stocks close higher Tuesday, as gains for UBS Group AG and others help the market to enjoy its best day since late June.
European stocks end lower and mark a third straight loss on Monday, as shares of Fiat Chrysler Automobiles after the sudden departure of longtime chief Sergio Marchionne, amid a fresh round of earnings reports.
European stocks fell Friday, with auto and bank shares among those losing ground as U.S. President Donald Trump threatens a significant expansion in tariffs on Chinese imports.
The WTI Oil price fell from $72.98 to $68.68 yesterday despite the inventories data showing a draw of -12.6M barrels which is the biggest since September 2016. Global stocks recover as investors continue to watch trade war developments.
Overall, it was a “cheerleading” speech with Draghi emphasizing the accomplishments of the ECB and the importance of the European Union unifying against the threat of increased protectionism in order to promote economic prosperity.
Some ECB members are said to be troubled about the slow pace of rates hikes, saying that a Sept/Oct 2019 hike is too late.
“It was ironic that Trump had been criticized by the “commentariat” on the details of trade tariffs, but that his wider aim to address global trade imbalances was being overlooked with too much focus on the headline-grabbing tariff threats and trade war fears.”
It’s a busy week ahead, with the markets looking ahead to ECB, FED and BoJ monetary policy, the North Korea – U.S Summit, key stats out of the UK, Europe and the U.S and then there’s the G7 Summit that concluded on the weekend.
The tension that’s been gathering in Italy finally erupted last week as coalition talks stalled and a snap election seemed increasingly likely. Investor confidence plummeted, not only in Italy but in the security of the eurozone and the wider economic community as fears intensified over the possibility of an Italian exit from the EU. Order was somewhat restored towards the end of the week when a statement was released late on Thursday that the coalition would be sworn into power the next day. FXTM Senior Writer Kirsty MacSween attempts to make sense of the chaos.
The political concerns in Italy are spreading across markets causing serious pressure on the banking sector. Global equities have lost about 1.5% in the past 24 hours and risk aversion has continued in early Wednesday trading.