It is obvious that the negative sentiment from Asia is moving to Europe as traders take a really timid tone at the start of European trade today. The main merit of this is the Deputy Prosecutor General, Rod Rosenstein, who is on the verge of resignation or dismissal. The US-China trade war continues to be the focus of the markets, with the two economic powers exchanging commercial shocks on Monday when the new tariffs came into force. China earlier rejected a US invitation to restart trade talks.
Today, traders will focus on the speech of the member of the Monetary Policy Committee Vlieghe, which will provide clarity about the state of the economy and any further move by the central bank to tighten monetary policy.
Indicative opening prices of European indices:
UKX: 7.450
DAX: 12,348
CAC: 5.465
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