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Fundamental Analysis
Trump comments spur trade deal hopes
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[QUOTE="IFC Markets, post: 155551, member: 18359"] [SIZE=5][B]Dollar weakens on global growth risks concerns[/B] [B][/B][/SIZE] [B]US stocks [/B]ended Friday session on a positive note after President Trump’s comment no more tariffs may be needed as China wants to make a trade deal with US. S&P 500 added 0.2% to 2736.27, closing 1.6% lower for the week. [I]Dow Jones [/I]industrial average rose 0.5% to 25413.22. The [I]Nasdaq [/I]however slid 0.2% to 7247.87. The dollar weakened on dovish comment over softer global growth by Fed Vice Chairman Richard Clarida: the live dollar indexdata show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.7% to 96.41 but is higher currently. Futures on stock indices point to higher openings today. [IMG]https://ifccd.net/uploads/image/SP500_O_19Nov2018.png[/IMG] [SIZE=5][B]European stocks end week lower[/B] [B][/B][/SIZE] [B]European stocks [/B]added to previous session losses on Friday led by bank shares in the absence of any positive Brexit development. The [I]GBP/USD[/I] joined [I]EUR/USD’s [/I]climb with the latter lower currently while the Pound continues gaining against the dollar. The Stoxx Europe 600 Index slid 0.2%, falling 2.2% for the week. The [I]DAX 30[/I]slipped 0.1% to 11341. France’s [I]CAC 40 [/I]slid 0.2% and UK’s FTSE 100 retreated 0.3% to 7013.88. [SIZE=5][B]Shanghai Composite leads Asian indices gains[/B] [B][/B][/SIZE] [B]Asian stock indices[/B] are mostly higher today led by Chinese stocks. [I]Nikkei [/I]added 0.6% to 21821.16 with yen little changed against the dollar. Chinese stocks are rising: the [I]Shanghai Composite Index [/I]is up 0.9% and Hong Kong’s[I]Hang Seng [/I]Index is 0.6% higher. Australia’s All Ordinaries Index extended losses 0.6% despite Australian dollar turning lower against the greenback. [SIZE=5][B]Brent up on OPEC output cut expectations[/B] [B][/B][/SIZE] [B]Brent futures prices [/B]are continuing their climb today after news top exporter Saudi Arabia is pushing for the OPEC cartel and its allies to cut 1 million to 1.4 million barrels per day of supply in December. Prices rose Friday: Brent for January settlement edged 0.2% higher to close at $66.76 a barrel Friday, a 4.9% drop for the week. [/QUOTE]
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