MARKET DEVELOPMENT –EUR/USD Awaits ECB Lagarde’s First Speech, US Sign No Auto-Tariffs
Threat Returns on Renewed Commerce Optimism
A discount in commerce conflict uncertainty has benefitted fairness markets this morning after US Commerce Secretary Wilbur Ross acknowledged that he was optimistic on US-China commerce talks, whereas additionally noting that licenses could be granted for American firms to promote to Huawei. Alongside this, threat urge for food and particularly the DAX had been supported by feedback from the Commerce Secretary that auto-tariffs is probably not wanted, which in flip noticed the DAX break above 13,000. Of observe, the auto-tariff deadline is due on November 14th.
EUR: A comparatively subdued begin to the week for the Euro as market members awaits Christine Lagarde’s first speech as ECB President. Traders will look to gauge the President’s stance on financial coverage, whereas feedback pertaining to fiscal stimulus shall be notably scrutinised…