Global equities rise as trade war concerns ease

Dow notched seventh straight win

US stock indexes advance continued on Thursday as President Trump said he would be open to a smaller-scale, interim trade deal. The S&P 500 gained 0.3% to 3009.57. The Dow Jones industrial average added 0.2% to 27182.45. Nasdaq composite index rose 0.3% to 8194.47. The dollar weakened despite data showing core inflation rose 0.3%, above forecasts of a 0.2% gain, while the number of Americans applying for new unemployment benefits fell by 15,000 to 204,000 last week: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.3% to 98.35 and is lower currently. Stock index futures point to higher openings today.

CAC 40 paces European indexes gains

European stocks extended gains on Thursday after the European Central Bank (ECB) resumed massive bond-buying. Both EUR/USD and GBP/USD resumed climbing yesterday with both pairs moving higher currently . The Stoxx Europe 600 index ended 0.2% higher as the ECB cut its deposit rate from -0.4% to -0.5%, and announced it would restart open-ended purchasing of long-term government bonds at a pace of €20 billion a month. Germany’s DAX 30 advanced 0.41% to 12410.25. France’s CAC 40 rose 0.44% while UK’s FTSE 100 added 0.1% to 7349.67 as British government published its plans for a no-deal Brexit on Wednesday night.

Nikkei leads Asian indexes gains

Asian stock indices are in green today in thin trading with markets in mainland China, Taiwan and South Korea closed for holidays. Nikkei extended gains 1.1% to 21988.29 as yen renewed its slide against the dollar. Hong Kong’s Hang Seng Index is 0.8% higher after reports China called on state firms to boost investment in crisis-hit Hong Kong. Australia’s All Ordinaries Index gained another 0.5% despite continuing Australian dollar climb against the greenback.

Nikkei rises above MA(200) 09/13/2019 Market Overview IFC Markets chart

Brent down

Brent futures prices are edging lower today. Prices advanced yesterday as OPEC and major producers reiterated their commitment to current output cuts, but didn’t announce bigger production cuts as some had expected in the wake of easing tensions between the US and Iran: November Brent crude lost 0.7% to $60.38 a barrel on Thursday.

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EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

XRP struggles around $1.40 despite institutional inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.