Convergence bets for China's AI, robot stocks building up [Video]

Ipek Ozkardeskaya ipekScope

Sentiment across Europe and the US improves on waning trade tensions with the US. Most major indices ended the session in the green, but gains in the US were questionable due to the underwhelming set of earnings from big companies including Google, AMD and Ford, and a better than expected ADP report.

US yields fell and the dollar softened letting the euro and sterling recover recent losses. The short-term gains could be extended but medium-term outlook for both currencies remain bearish against the greenback.

Elsewhere, the convergence trade in favour of European stocks and Chinese AI, robot stocks is building up. Gold consolidates near ATH and crude oil is down on global trade worries and big jump in US weekly oil inventories.

Author

Ipek Ozkardeskaya

ipekScope

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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