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.
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