US-China trade war going down

Daily Analysis - 28/11/2019

Trump signs bill that supports Hong Kong protesters

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After the US President, Donald Trump signed two bills that supports Hong Kong demonstrators into law, yesterday China’s Ministry of Foreign Affairs stated that the US has “sinister intentions” and its “plot” is “doomed to fail,” State media also issued a report from the Hong Kong contact office, highlighting its dedication to protecting its “one country, two systems” arrangement. According to a CNBC interpretation of an Online-Chinese language statement the office published “We are officially telling the US and the handful of opposition politicians in Hong Kong who follow America’s lead to not underestimate our determination to protect Hong Kong’s prosperity and stability, don’t underestimate our belief to protect the ‘one country, two systems policy’ and don’t underestimate our capabilities and strategies in protecting our country’s sovereignty, safety, growth and rights”.

Gold up after Trump supports Hong Kong protesters


On Thursday gold went up while investors turned to the safe-haven metal because of uncertainties regarding a trade deal agreement between the US and China. The uncertainties cover the question, if the US and China will eventually strike a deal following President Donald Trump's approval of legislation that supports the Hong Kong protesters. Spot gold increased 0.1% to $1,456.21 per ounce while the US gold futures rose 0.1% to $1,455.19.

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Oil down following an output record


On Thursday Oil prices dropped, extending declines from yesterday's session following the official numbers that revealed that the US crude and gasoline stocks increased versus expectations while stock scored a record. US West Texas Intermediate crude settled 24 cents below, to $57.86, after dropping a half percent in the previous session. Brent crude futures fell 18 cents, to $63.87 a barrel having lost 0.3% yesterday.

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US stocks went up scoring 4 days of increases


Yesterday US stocks lightly increased, adding to their record-setting period following the publicity of stronger-than-expected economic numbers. The Technology-driven Nasdaq Composite improved 0.7% to 8705.17. The S&P 500 rose 0.4% to 3153.63 while The Dow Jones Industrial Average advanced more than 42 points, to 28,163. The averages registered new daily records, and marked their 4th continuous day of profits.

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