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© Reuters.
Investing.com – Discover the Top Five Financial Market News on Monday, January 7:
1. China-US trade talks begin
US-China trade talks scheduled for January 7 and 8 began Monday in Beijing as investors wait for both sides to conclude a global agreement trade agreement before the end of a 90-day truce in the trade war.
Washington and Beijing have until March 1 to reach an agreement. After that date, US President Donald Trump promised to raise tariffs to 25%. The protracted trade dispute between the world's two largest economies has sparked fears over the economic slowdown in China after a spate of weak economic data and fueled concerns about the impact on the Chinese economy. The global economy after Apple (NASDAQ 🙂 has issued a notice regarding revenue cuts for the first quarter of the fiscal year last week.
2. The stock market has weakened
The US futures market has seen a stable opening on Wall Street and the recovery of the global stock market has lost its momentum.
The appetite for risk has been shaken by US lawmakers who have not yet done so. managed to reach an agreement to end the government's blockage, while Brexit risks continued to overshadow the outlook in Europe.
During the night, Chinese stocks were formed after the central bank announced a relaxation of its policy an economic slowdown, while the resumption of trade negotiations between Washington and Beijing also boosted the appetite for risk, leaving Asian markets largely
US markets bounced back on Friday after a stronger-than-expected jobs report and comments by Fed Chairman Jerome Powell that the bank Central would be patient and flexible on monetary policy this year.
3. Oil prices rise by about 3%
Oil prices rise further in the hope that the easing of trade tensions between the United States and China would increase the prospects demand, while supply reduction of major producers
The price per barrel was $ 58.75 per barrel, up $ 1.68, or 3% from their last closing .
$ 37 per barrel, up $ 1.41 or 2.96%.
Despite the risk of economic slowdown resulting from the trade war, oil prices were supported by supply cuts started at the end of the year. adopted by a group of producers from the Organization of the Petroleum Exporting Countries (OPEC), dominated by the Middle East, as well as by non-OPEC producers led by Russia.
Goldman Sachs said that a reduction would lead to a gradual rise in oil prices in 2019, with high inventories returning to their 5-year average.
4. The dollar lost ground
O was generally lower than other major currencies, weighted against a weighted basket of six major currencies, down 0.3% to 95.46. 19659006] The dollar remained in the shadow after the Fed's comments on Friday, as the resumption of US-China trade talks weakened the demand for money.
The euro has strengthened with an increase of 0.41. at 1.1437, even after the data showed that orders to German factories fell more than expected in November. Separate reports showed that eurozone investor sentiment fell to its four-year low in January, but retail sales in the bloc rose sharply in November.
5. Non-industrial ISM PMI
The December December ISM non-industrial data is expected to be published at 1:00 pm and is expected to show a slight decline, but may become a negative surprise, as the
L & P index ISM's non-industrial PMI index is expected to hit compared with November November 2007.
Data from last Thursday showed that manufacturing activity had decelerated sharply. in December, suggesting that the US economy is probably not immune to slower growth in China and Europe, despite the strength of the labor market. function (f, b, e, v, n, t, s)
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