US-China Relations Have Worsened

On Friday, the US dollar showed a variety of trends. The dollar index (#DX) closed yesterday in the green zone (-0.09%). Traders are still focused on US-China trade negotiations. Earlier it was reported that China and the United States were close to concluding an interim trade agreement. However, the situation concerning Hong Kong has complicated relations between countries. China imposed sanctions on the American non-governmental organization Human Rights Watch (HRW) in response to the recent D. Trump's actions. Therefore, negotiations on a trade agreement were suspended.

Today, during the Asian trading session, positive economic data have been published in China, which have supported the Chinese yuan. So, the Chinese Caixin manufacturing PMI index was published, which counted to 51.8 in November, while experts expected a value of 51.4. Also, today, important economic data are expected from the Eurozone, the UK and the US. In general, the week will be full of releases of economic statistics from the UK, US and Canada.

The "black gold" prices have been declining. At the moment, futures for the WTI crude oil are testing the $56.50 mark per barrel.

Market Indicators

On Friday, there was the bearish sentiment in the US stock market: #SPY (-0.37%), #DIA (-0.34%), #QQQ (-0.46%).

The 10-year US government bonds yield has been growing. At the moment, the indicator is at the level of 1.83-1.84%.

The Economic News Feed for 02.12.2019:
  • - German manufacturing PMI at 10:55 (GMT+2:00);
  • - Manufacturing PMI in the UK at 11:30 (GMT+2:00);
  • - ISM manufacturing PMI at 17:00 (GMT+2:00).

by JustForex, 2019.12.02

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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