China foresees fresh problems in trade talks

By 29/11/2019News
Morning Stock News

Gold   1458,68
(+0,19%)

EURUSD   1,1011
(+0,01%)

DJIA   28056,50
(-0,18%)

OIL.WTI  58,00
(-0,41%)

DAX   13256,48
(+ 0,01%)

Donald Trump chose to ignore the requests of his Chinese partners and signed two laws supporting the rights of the protesters in Hong Kong. Such actions confuse investors; plus, all the forecasts for the signing of the first part of the trade agreement are now out of the window.

Brent day chart

Oil prices keep going down, pushed by the fear that the talks between the US and China might fall through. The hope that the OPEC countries extend production cuts in December is also waning. Some of the OPEC members stated that the discussion should be postponed till March. January Brent futures were traded at $63 per barrel on Thursday.

EUR/USD

Small trading volumes, owing to the holiday in the US, keep euro in a narrow range. The pair has consolidated near the 1.10 mark. Since the fresh German inflation data isn’t good, there is no reason for the pair to grow. Bearish mood is prevailing.

GOLD

Gold remained under pressure on Thursday, and now there is a chance it will test the monthly minimum of $1445 per ounce. The current complications in the trade talks prevent investors from finding the right direction. Meanwhile, the positive US GDP statistics didn’t have any impact on the price of gold.

INDICES

Since US markets were closed on Thursday, the day passed without major incident. European markets closed slightly in the red in preparation for the Black Friday. DAX sustained a small fall from its all-time high and closed at 13245.

What’s next?

8.00 UK: nationwide housing prices for 2019
9.55 Germany: change in the number of the unemployed
11.00 EU: consumer price index since the start of 2019
14.30 Canadian GDP


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