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Today's Market Fundamentals
Just as we thought we were making some headway in the US-China trade talks, it seems as though the US Treasury have put a spanner in the works with comments that they will hold China accountable for year of unfair and market distorting trade practices. Things with North Korea may not be as rosy as what President Trump likes to think either with reports that NK continues to violate sanctions and that the missile program is very much still intact.
The rest of the market news comes from the UK, it is expected that PM May will meet in Brussels with Junker, it may be an intention that things are moving forward but I doubt anything will come of this meeting. The UK are determined to come to some agreement on the Irish backstop, the Malthouse Compromise from her parliament calls for an Irish resolution and an extension of the implementation period, alternatively to leave without a deal.
The EU are trying to play hardball and I suspect that this compromise is the UK trying to bide more time and perhaps call the EU’s bluff. The EU must realize that a no deal could be very damaging in the long term and will have to compromise eventually.
Today's Market Trading Levels
- US500 SELL 2730 – 2755
- US30 SELL 25350 – 25550
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