Trump and Xi with results – Focus now on the Fed
|Important news for the day
- Thu, 30th, 04:15 CET JP BoJ interest rate decision
- Thu, 30th, 14:15 CET EU ECB interest rate decision
- Thu, 30th, 14:45 CET EU ECB press conference
Trump - Xi meeting
According to Donald Trump the meeting between him and the Chinese President was a 12 our of 10. Agreements have been made in the export of rare earth as well as the supply of chips from the US. Furthermore tariffs have been cut and a so called “trade truce” for a year has been signed. How much such meeting is worth can only be seen in several months from now. Seemingly previous Trump- comments about the further raise of tariffs might only be seen as the usual bluff from the US President. Market reactions have been muted with oly limited momentum into either direction.
Market talk
The slight strength of the Dollar seems to continue. Since the rate cut of the FED has been anticipated before, no further weakness in the Dollar has happened. Instead, some strength might now be observed with also the AUDUSD currency pair weakening off a technical resistance level. If the market falls below the 0.6600 range more downside momentum might be seen. The focus will be on the ECB today. No rate adjustment is expected but any EUR currency pairs might offer volatility after the release. In particular the press conference and comments about the future outlook might might move markets.
Tendencies in the markets
- Equities sideways, USD stronger, BTC sideways, ETH weaker, oil weaker, Silver sideways, Gold positive.
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