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Today’s Market Fundamentals
There is still a lot of nervousness in the markets and the added possibility of a rate cut from the Fed seems to be front of mind – this would mean to investors confirmation that the world is going into a economic slowdown. As such the US inflation report would be a key driver yesterday, the report was softer but the dollar traded higher and perhaps this was a buy the rumour sell the fact kind of trade – my opinion is that even if the world’s biggest economy goes into a slowdown it is likely to still be more advanced than other economies.
It was rumoured that the trade talks between Trump and Xi could be back on come the G20 with Trump again stating that he believes there will be a trade deal soon – I suspect that this is true, although there could be a whole lot of pain before then.
Over in the UK – remember them? It is been reported that Boris Johnson is still the firm favourite to be the next British PM, I am still undecided as to whether this is a good or a bad thing. His stock raised further yesterday after a vote to block a no-deal Brexit failed in parliament – keeping in mind he is not adverse to a no-deal.
Today’s Market Trading Levels
1. Gold SELL 1335 – 1.1338
2. Brent BUY 60.70 – 60.40