Speech of Chinese President Have Calmed the Financial Market Participants

Yesterday, fears of a trade war calmed down after Chinese President Xi Jinping promised to lower the US import tariffs. Official's speech soothed investors, as a result, the situation in financial markets has become stable. The US currency weakened against the basket of the major currencies. The US dollar index (#DX) closed in the negative zone (-0.23%) yesterday.

Yesterday, the producer price index in the US was also published, the value of which counted to 0.3%, which is higher than the forecasted value of 0.1%. The British pound rose to its two-week high after a member of the Bank of England's Monetary Policy Committee Ian McCafferty said that the interest rate in the UK should be raised in the near future.

At the moment, the "black gold" prices are declining. Futures for the WTI crude oil are testing a mark of $65.30 per barrel. At 17:30 (GMT+3:00), a report on the US crude oil inventories will be published.

Market Indicators

Yesterday, there were aggressive purchases in the US stock market: #SPY (+1.59%), #DIA (+1.79%), #QQQ (+2.21%).

At the moment, the 10-year US government bonds yield is at the level of 2.79-2.80%.

- manufacturing production in the UK at 11:30 (GMT+3:00);
- inflation report in the US at 15:30 (GMT+3:00);
- publication of the FOMC protocols at 21:00 (GMT+3:00).

We also recommend paying attention to the speech of the ECB head Draghi.

by JustMarkets, 2018.04.11

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.