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Today's Market Fundamentals
The whole world was concerned about one thing and one thing only this weekend – the conclusion of the US-China trade talks. News over the weekend is that the world’s two largest economies have made some inroads in some structural trade agreements, the US will delay the talks until the two presidents can meet again in 3 weeks – Trump himself has declared the last week a success.
While the standoff continues to narrow, I am sure that as we start reaching the final stages of this agreement, it will become a little bit more difficult. This all points to greater risk appetite and possibly a good day ahead for the commodity currencies.
There was also come shatter that the EU are trying to give reassurance that there will be an Irish border backstop. The EU are playing with fire here in my opinion, the UK are wanting a legally binding solution – and this is not it. With Trump setting his sights on the EU, their bargaining power is starting to wane.
Today's Market Trading Levels
- DE30 SELL 11490 – 11520
- US30 SELL 26072 – 26125
- GBPUSD SELL 1.3075 – 1.3100
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