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Fundamental Analysis
Global markets rebound as trade war concerns abate
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[QUOTE="IFC Markets, post: 168872, member: 18359"] [SIZE=5][B]Dollar strengthening resumed on strong durable goods data[/B][/SIZE] [B]US stock indexes [/B] recovered partly from sharp losses of Friday as trade war concerns abated after President Trump said Chinese Vice Premier Liu He, the top Beijing negotiator with Washington, “wants to see a deal made.” The [I] S&P 500 [/I] gained 1.1% to 2878.38. Dow Jones industrial advanced 1.1% to 25898.83. The [I] Nasdaq [/I] composite rose 1.3% to 7853.74. The dollar strengthening resumed as the Commerce Department reported durable goods orders rose 2.1% in July, above the 0.9% forecast. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.4% to 98.04 but is lower currently. Stock index futures point to higher market openings today. [SIZE=5][B]European indexes rise despite weak German data[/B][/SIZE] [B] European stocks [/B] ended higher on Monday led by auto shares. Both [I] GBP/USD [/I] and [I] EUR/USD [/I] turned lower yesterday with euro higher currently while Pound inching lower. The Stoxx Europe 600 index ended marginally higher. The [I] DAX 30 [/I] gained 0.4% to 11658.04 despite the Ifo Institute report German business morale fell in August, with its business climate index coming in at 94.3, versus an expected 95.1. France’s [I] CAC 40 [/I] advanced 0.5%. UK markets were closed for a bank holiday. [IMG]https://ifccd.net/uploads/image/FR40_27August2019.jpg[/IMG] [SIZE=5][B]Shanghai Composite leads Asian indexes rebound[/B][/SIZE] [B]Asian stock indices[/B] are mostly higher today after president Trump said “China wants to make a deal, and if we can, we will make a deal.” [I] Nikkei [/I] rebounded 1.0% to 20456.08 despite the reversal of yen slide against the dollar. Markets in China are mixed as Chinese Vice Premier Liu He said on Monday that China was willing to resolve the trade dispute through “calm” negotiations: the [I] Shanghai Composite Index [/I] is up 1.4% while Hong Kong’s [I] Hang Seng [/I] Index is 0.4% lower. Australia’s All Ordinaries Index recovered 0.5% as Australian dollar turned lower against the greenback. [SIZE=5][B]Brent up[/B][/SIZE] [B]Brent futures prices [/B] are edging higher today. Prices fell yesterday on global growth concerns as US and China exchanged new tariff threats Friday: October Brent crude closed 1.1% lower at $58.70 a barrel on Monday. [/QUOTE]
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