The quiet weekend did not present any surprises this time, but at the beginning of the new week we start hesitantly and cautiously. Today, Japan is resting, with other Asian financial centers recording a mixed session. At the beginning of the day we see a weak dollar, oil is mixed and gold is rising in price. Saudi Aramco said they would rather take months to recover instead of weeks, delaying their oil deliveries to Japan. Bakkt launches, but surprisingly Bitcoin remains under pressure and is still under $ 10K.
Today is PMI today for Europe and the US, so this data will be the driving force today, among other things, about Brexit, the trade war and the situation in the Middle East. It is precisely because of the increased geopolitical risks that early indications on European markets are almost flat, and we will expect cash flows to look for some direction with the opening of Europe and subsequently the United States.
Apparently at a slow start, the development of trade negotiations will remain a priority. Last Friday, the Chinese government canceled a review of US farms, indicating that talks are very fragile and that the two countries are still far from even an interim agreement. At this stage, nothing is confirmed and clear, quickly fading from last week's optimism following the "sweetened" rhetoric on both sides. Negotiations are scheduled for October 10, but there is a long way to go and speculation is growing that they may be canceled.
As far as oil is concerned, the methodology is as follows: Slow repairs - higher oil prices. Quick fixes - lower oil prices.
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