Yet again, the US and Chinese leaders have failed our expectations. No trade agreement was signed, and the representatives of China have stated that a new round of talks is needed. Markets have reacted with a fall, dragging oil prices with them.
In the absence of any major news, the Forex market remained stable. Euro closed at almost the same level as last Friday. Investors are waiting for clearer signals to understand what the mid-term trend will be.
The pound failed to build on its success in the previous 2 trading days and lost over 1 point. Speculators decided to take their profits in advance of the upcoming round of Brexit talks.
Gold is up, as expected, but still below the psychologically important mark of $1500 per troy ounce. The price is currently flat with the daily volatility range decreasing. As we pointed out last week, speculators are waiting for a powerful breakout from the channel to join the action.
At the start of the trading session, stock markets fell a bit. Nevertheless, by Monday evening, most of the fall had been bought out. Since there’s still hope for a peaceful conclusion to the US-China trade war, investors aren’t in any rush to sell their stocks in preparation for the Christmas rally, which is only a couple months away.
2.30 am A statement by the Governor of the Bank of Japan Haruhiko Kuroda
3:30 am Minutes of Reserve Bank of Australia’s latest session
10:30 am Chinese consumer price index for September
10:30 am UK unemployment and wages data
11:00 German ZEW Indicator of Economic Sentiment
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