Trade war fears have eased, with Trump planning to meet the Chinese vice-premier tomorrow. Meanwhile, the pound is on the rise, following an optimistic statement from Irish Taoiseach Varadkar

  • Markets rise as trade war hopes boost sentiment
  • Commodity stocks drive FTSE higher
  • Sterling on the rise amid positive meeting with Leo Varadkar

Global markets are on the rise as we close out the European session with green across the board. Sentiment was always likely to be dominated by today’s US-China trade talk, and the past 24 hours have proven difficult for traders amid a raft of conflicting rumours. However, the biggest piece of good news for markets thus far came in the form of a Trump tweet which set out plans for him to meet Liu He tomorrow. Markets certainly perceive the meeting as an additional opportunity for the deadlock to be broken. Despite US rejection of Chinese plans for a partial deal, rumours that the US could consider a currency pact to stave off impending tariffs at least points to some form of de-escalation.

Commodity stocks have been the big outperformer as a result of improved trade war sentiment, with Antofagasta, Anglo American, and Glencore all heading up the leaderboard at the close of the day. While the US and China remain some way from a final deal, the speculation over a potential de-escalation has boosted sentiment for the likes of copper, the yuan, and US stocks.


The pound has rebounded sharply after the meeting between Boris Johnson and his Irish counterpart brought a conciliatory tone despite the fears expressed after a combative conversation with Angela Merkel on Tuesday. However, while they agreed a solution could be found, it seems the meeting was light on details on exactly how this Ireland-based deadlock could be broken.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD modestly up for the day, still below 1.0900

The EUR/USD pair is trading marginally higher at the end of Wednesday, as panic eased. Nevertheless, concerns about the coronavirus possible effects on economic growth keep investors in cautious mode.

EUR/USD News

AUD/USD at fresh multi-year lows and at risk of falling further

The Aussie remains among the weakest currencies in the FX sphere, amid Australian economic tights with China. AUD/USD trading at an over one-decade low in the 0.6550 price zone.

AUD/USD News

Crypto Today: Bitcoin bears force devastating break of $9000

BTC/USD is currently trading at $8740 (-6.50%), the bears have smashed the big $9000 mark to the downside. 

Read more

Gold surrenders early gains, refreshes session low around $1630 region

Gold surrendered its early modest gains and has now drifted into the negative territory, refreshing session lows around the $1634-335 region.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex Majors

Cryptocurrencies

Signatures