Money Flows before the start of the European Session

21.05.2019 / 07:48

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The trade relationship between the US and China was exacerbated after Huawei had been banned from exposing the US market, which of course negatively affected the Asian markets, but they eventually ended mixed.

The initial indications for the opening of Europe point to a good start with a slight risk on sentiment. Today, the calendar is almost empty of events for Europe and the US, with money flowing mainly from the news of the trade war and Brexit. On the trade front, we are looking forward to developments alongside the Huawei situation, Google's final decision and Trump's confirmation for Huawei's 90-day grace. In the last few hours, a lot of controversial information was coming up, but we expect things to be clearer.

To Europe again, we expect Deutsche Bank shares to remain under pressure due to lower ratings and weak prospects. With indexes, we will observe the DAX and the area around 12,000 for eventual hold over it if sentiment does not worsen over time.

Against the backdrop of trade-related tensions, investors will also rely on corporate results. The big names on this week's front are Target on Wednesday and Best Buy on Thursday, affecting the US session.

Oil also remains in focus today around OPEC's intentions to maintain the quota, and Iran has stepped up its atomic program with an increase in uranium production. Relations between the United States and the Muslim nation are not good after the yesterday's strident rhetoric, and the situation in the Middle East remains unsettled.

We expect the US dollar to remain strong today, and given the rising risk on a trading day, the yen falls cheaper.

Trader Martin Nikolov

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Money Flows before the start of the European Session

London

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