A Trading Conflict Between the US and China Is in the Spotlight

Yesterday USD slightly strengthened against the basket of major currencies. The USD index (#DX) closed in the green (0.16%). The high possibility of a full-on trading war between the US and China is in the spotlight. The US President, Donald Trump, increased the import tax on the Chinese ware that cost more than $200 billion up to 25% instead of the current 10%. The financial market participants are waiting for the meeting between the leaders of China and the United States during the G20 summit.

EUR stabilized after the differences between Italy and the EU due to the Italian budget project can soon be resolved. Matteo Salvini announced that the Italian government would lower the budget deficit and fit it under the requirements of the European Union.

The oil market kept a bearish sentiment. At the moment, the WTI futures are testing a 51.30 USD/barrel mark.

Market Indicators

The US stock market began to recover: #SPY (+1,61%), #DIA (+1,47%), #QQQ (+2,31%).

The 10-year US government bonds yield has stabilized. At the moment, the indicator is at 3.05-3.06%.

The Economic News Feed for 27.11.2018:
  • - CB Customer Confidence Index – 17:00 (GMT+2:00).

by JustForex, 2018.11.27

We advise you to get acquainted with the daily forecasts for the major currency pairs.

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.

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