Is a trade deal with China close to completion?

By 13/12/2019News
Morning Stock News

Gold   1467,47

EURUSD   1,117

DJIA   28255,50

OIL.WTI  59,35

DAX   13258,52
(+ 0,01%)

The main news of the day came again from Twitter of US President Donald Trump. “The U.S. is very close to a major deal with China,” the American leader said. However, we do not know if it is true. The U.S. dollar just shot into the sky on this news, having started to rise sharply against all currencies.

EUR/USD day chart


On the positive side, stock markets around the world are growing, as are commodity prices. The main thing is that the next portion of the positive does not result in another and growing negative, if after the weekend we hear that there are new problems in the negotiations again.


Very interesting technical picture in a pair of euros/dollar. Pay attention to the daily chart above. For the first time since June, the price is close to the 200-day simple moving average line and bounced back like a pinpong ball.
And this is against the background of the statement of the new ECB Chairman Christina Lagarde that the slowdown of the Eurozone economy has stopped. In any case, from the low of October, the pair has already grown by 300 points, and the correction is absolutely normal. Today it started with fundamental and technical factors.


Gold traditionally reacted with a fall in trade tension, although in the first half of the day it grew steadily against the U.S. dollar and other currencies. A number of stops were removed, but the break-up turned out to be false, the gold metal returned to the corridor, which had formed since the beginning of November 2019.


The American stock market has shown new historical highs. Investors have already forgotten about the sharp fall of the first 2 trading days in December. The shell does not fall into the same funnel twice, so almost nobody foresees a repetition of last December, when stock indices closed the month of cutting by the fall. On the contrary, there is still enough time left until the end of the year and the Christmas rally is in full swing.

What awaits us today?

EU Leaders Summit
09.00 Address by ECB Vice-President De Gindos
14.30 Retail sales in the USA in November

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