Trade Negotiations Between the US and China Are in the Spotlight

The US dollar has been declining against a basket of world currencies. The dollar index (#DX) updated local lows and reached 96.60. The US continue to publish weak economic releases. Thus, core durable goods orders rose by only 0.1% in February, while experts expected growth by 0.3%. The dollar index (#DX) closed with a slight minus (+0.05%). Investors are focused on trade negotiations between the US and China. Today, a new round of talks between the Chinese delegation led by Vice Premier Liu He and the US regarding the trade agreement, which is in the final stage, will begin.

Yesterday, Theresa May said that she intended to ask the EU to extend Article 50. She still wishes to negotiate with the Labour leader to reconsider her Brexit agreement. The British Prime Minister wants the kingdom and the European Union to remain in close relationship after the country's exit from the block.

Today, during the Asian trading session, optimistic data has been published in Australia. Thus, the volume of retail sales rose by 0.8% in February, while experts expected 0.3%. The trade balance increased to 4.801B in February instead of 3.710B. Financial market participants expect important economic statistics from the UK and the US.

The "black gold" prices are growing. At the moment, futures for the WTI crude oil are testing $62.80 per barrel. At 17:30 (GMT+3:00), a report on crude oil inventories will be published in the US.

Market Indicators

Yesterday, there was a variety of trends in the US stock market: #SPY (+0.05%), #DIA (-0.27%), #QQQ (+0.38%).

The 10-year US government bonds yield has continued to grow. Currently, the indicator is at the level of 2.50-2.51%.

- Services PMI in the UK at 11:30 (GMT+3:00);
- ADP nonfarm employment change at 15:15 (GMT+3:00);
- ISM non-manufacturing PMI at 17:00 (GMT+3:00).

by JustMarkets, 2019.04.03

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.