Stock Markets Mixed
Shares in Asia were mixed Friday as investors digested the latest Chinese trade data for March. Specifically, China’s exports for the month of March came in much higher than expected, while its imports came in much lower than expected, according to customs data released on Friday.
Elsewhere, European markets cautiously opened higher as investors focused on optimistic China-European Union trade talks. EU Council President Donald Tusk announced in a joined Press Conference with EU Commission President Jean-Claude Juncker and Chinese Prime Minister Li Keqiang, that the China-EU trade summit was successful. The agreements included a declaration that China would move more quickly to join a World Trade Organization agreement on government subsidies and that both sides would work on intellectual property and sustainability issues.
That being said, Global Markets will continue to be influenced on all fronts with news in developing countries, a cut to the International Monetary Fund’s global growth forecast, the US-China trade war and Brexit, which has seen another round of extension for now. Short term trading is the key approach to the markets currently until we can see a better picture of a trend, which might be happening soon.
Will Gold See More Losses?
Spot gold recovered some of yesterday’s losses this morning to last trade at $1,294.04 per ounce as of 6:40 GMT, after touching a one-week low on Thursday. Gold shows a bearish pattern and could lead to a further sell off if the support level is broken.
Stock Markets Could Tumble
Profit taking before the weekend might also send stock markets lower on Friday. Despite growing global growth concerns, global stock markets have seen a rather positive week with yet limited demand for a further bullish move as the markets open.
Risk Warning: CFDs are complex instruments and come with a high risk of losing your invested capital due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The content of this material and/or any information provided by BDSwiss Group should not be in any way construed, either explicitly or implicitly, directly or indirectly, as investment advice, recommendation or suggestion of an investment strategy with respect to a financial instrument and it is not intended to provide a sufficient basis on which to make investment decisions, in any manner whatsoever. Any information, views or opinions presented in this material have been obtained or derived from sources believed by the BDSwiss Research Department to be reliable, but BDSwiss makes no representation as to their accuracy or completeness. BDSwiss Group accepts no liability for losses arising from the use of this data and information. The data and information contained herein are for background purposes only and do not purport to be full or complete.
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.