New location for US-China meeting

Daily Analysis - 01/11/2019

President of the U.S said that Phase one deal is 60% of the whole process

new-location-for-us-china-trade-signing


Yesterday Donald Trump the President of the United States announced that the new location for starting the discussion regarding the “phase one” of U.S.-China trade agreement will be published shortly following the cancellation of the meeting in Chile due to the rallies. Yesterday President Donald Trump said in a tweet that “China and the USA are working on selecting a new site for the signing of Phase One of the Trade Agreement, about 60% of the total deal, after APEC in Chile was canceled due to unrelated circumstances,” “The new location will be announced soon.

The dollar index dropped more than 10%


On Friday the greenback fell close to a 21-day low against the Japanese yen before the publishing of the U.S. employment statement that is foreseen to register retardation in job creation, boosting the anxieties regarding the state of the world’s greatest economy.

The popular USD also suffered drops versus the GBP and EUR following a Bloomberg report that Chinese executives have second thoughts regarding the success of a complete long-term resolution to the U.S.-China trade conflict.

popup_close
eurusdh1-19

Oil level up but set for a weekly drop


On Friday Oil went up following a stressful week. However, remained to its course for declines of around 4%, beaten by a mixture of increasing global stocks and the unknown demand for the popular commodity. Brent crude increased by 5 cents, to $59.66 a barrel, heading for a drop of nearly 4%. U.S. crude increased for the first time in almost a week increasing by 18 cents, to $54.35 a barrel.

popup_close
cl-dec19h1-5

Gold is heading for a 14-day increase


On Friday the safe haven Gold fell as traders gauged the Federal Reserve’s expected rate cut position. However, the popular yellow metal was produced for a 14-day increase while the risk encompassing a U.S.-China trade agreement supported safe-haven demand.

Spot gold dropped 0.2% to $1,510.76 per ounce, while U.S. gold futures fell 0.1% to $1,513.19 per ounce.

 

popup_close
xauusdh1-16

Upcoming Events

  • Time
  • Currency
  • Event
  • Forecast
  • Previous
  • 9:30 GMT
  • GBP
  • Manufacturing PMI (Oct)
  • 48.1
  • 48.3
  • 12:30 GMT
  • USD
  • Nonfarm Payrolls (Oct)
  • 89K
  • 136K
  • 12:30 GMT
  • USD
  • Unemployment Rate (Oct)
  • 3.6%
  • 3.5%
  • 14:00 GMT
  • USD
  • ISM Manufacturing PMI (Oct)
  • 48.9
  • 47.8

This website uses cookies to ensure best possible user experience. Read more

Accept

Trading CFDs involves a significant risk of loss that may not be suitable for all investors. Please ensure you fully understand the risks and take appropriate care to manage your exposure.

80.7% of retail CFD accounts lose money. Read more

X