Daily Analysis - 06/11/2018
A European official gave us a very simple message while China and US extend their trade war against each other, the message was simply "this has to stop" meaning the trade war between the two Giants.
On Tuesday, European Commissioner for Health and Food Safety Vytenis Andriukaitis criticized the protectionism on CNBC and said it is keeping nations and their people from achieving the success they deserve.
Eunice Yoon said at a conference in Shanghai, China. "Let's send a simple message: Every war is unacceptable. We need to change the situation," "We are here not because of war between the U.S. and China, but because we are strong advocates for multilateralism, for rules-based systems."
Andriukaitis indicated a popular refrain among economists — "trade can help all of us to have win-win situations" — but that long-standing dispute has grown to a matter of discussion in recent years. Donald Trump During his rise to the presidency in the U.S. regularly doubted the efficiency of America's trade agreements, showing that many forms of trade were not "fair" to his country.
On Tuesday Gold prices dropped in early Asian trade while the greenback recovered, as investors anticipating U.S. midterm election outcomes for market direction. U.S. gold futures fell 0.2% to $1,230.4 per ounce while
Spot gold was down about 0.2% at $1,228.20 per ounce. A Hong Kong-based trader said
"Dollar is a little bit firmer so that's putting some pressure on gold,” adding, gold will be trading mostly sideways until the midterm elections results.
Today Oil prices moved down on releases from the US that will allow Iran's biggest oil buyers to keep buying from Tehran, as well as the attention that an economic slowdown may restrict fuel needed for growth.
International Brent crude oil futures moved down 28 cents, or 0.39 %, at $72.89 a barrel.
U.S. West Texas Intermediate (WTI) crude futures were at $62.94 a barrel at down 15 cents, from their last close.
Today Asian stocks were mixed while investors expect the U.S. midterm elections later today. Hong Kong's Hang Seng index improved from its earlier declines and gained about 0.78% in afternoon trade.
Mainland China markets closed the day lower, with the Shanghai composite sliding 0.22% and closed at around 2,659.35 and the Shenzhen composite declined 0.356 percent to about 1,346.19.
Japan's Nikkei 225 rose by 1.13% on close at 22,147.70 and the Topix index saw gains of 1.16% end the day at 1,659.34.
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