Overview of the market movers

16.05.2019 / 15:14

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Given the more bleak mood in the morning, especially because of the news that Trump is making a new blow against China, sentiment has improved, with European indices turning up, and the US futures also entering into green territory.

Markets reflect the nervousness of market participants, for now the tension between the US and China only frightens fear. Donald Trump wrote a bill banning the entry of Chinese telecoms companies in the US and Huawei in particular. On a trade front with Europe, he postponed the increase in car export tariffs to the United States.

Today, however, investors have decided to continue with "bets" that the Fed will cut interest rates at the end of the year. In the FX markets, pounds deepened their depreciation against the euro for the ninth straight day. Prime Minister Theresa May has failed even today to reach an agreement with Labor, with Corbyn saying he will not vote for May. The BRENT and West Texas Instruments oil varieties today have a positive sentiment after the risks in the Middle East have risen due to the geopolitical situation. A meeting of OPEC + will take place on May 18th, with Iran and the consequences of US sanctions imposed on Tehran.

The main moves today: Stoxx Europe 600 is up 0.4%, and S & P500 futures. The MSCI Asia Pacific index is down 0.3%. The Bloomberg dollar index is up 0.1 percent, and the offshore yuan dropped 0.1 percent. Given the risk on the situation today, the Japanese yen continues to devalue, down by about 0.1%. The Australian dollar also continues its depreciation, and the euro is able to hold strong positions against the dollar and is currently up 0.05%.

In the bond market, US 10-year government securities rose by one basis point to 2.39%. German 10-year bonds fell to -0.10%, while UK 10-year-olds fell to 1.057%.

Crude oil holds a positive sentiment, with WTI up 1.1%, iron ore picking up 2.6%, and gold for the moment down by about 0.2%.

Trader Martin Nikolov

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Overview of the market movers

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