{"id":124955,"date":"2018-04-11T06:49:15","date_gmt":"2018-04-11T10:49:15","guid":{"rendered":"http:\/\/countingpips.com\/?p=124955"},"modified":"2018-06-01T15:40:54","modified_gmt":"2018-06-01T15:40:54","slug":"chinas-xi-pro-trade-speech-lifts-markets","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/04\/chinas-xi-pro-trade-speech-lifts-markets\/","title":{"rendered":"China\u2019s Xi pro-trade speech lifts markets"},"content":{"rendered":"
April 11, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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US stocks rally as trade tensions ease<\/h2>\n<\/div>\n<\/div>\n

US stock indices\u00a0<\/b>closed sharply higher Tuesday as pro-trade statements by Chinese President Xi Jinping eased trade war concerns. The\u00a0S&P 500\u00a0<\/em>rose 1.7% to 2656.87 led by energy and technology shares. Nine of 11 main sectors ended higher.\u00a0Dow Jones\u00a0<\/em>industrial average climbed 1.8% to 24408. The\u00a0Nasdaq\u00a0<\/a>composite index outperformed gaining 2.1% to 7094.30. The dollar weakened further: the\u00a0live dollar index<\/a>\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.2% to 89.60. Stock indices futures point to lower openings today.<\/p>\n

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Trade tensions eased as Chinese President Xi refrained from stating any retaliatory measures to President Trump\u2019s threat of additional $100 billion import tariffs on Chinese goods, instead saying Beijing plans to cut tariffs on car imports and give foreign companies greater access to financial sector, as well as improve protection of intellectual property. The economic news was also positive: US wholesale prices accelerated in March, rising 0.3% instead of an 0.2% expected increase despite lower energy costs, suggesting rising inflationary pressures. Today at 14:30 CET March consumer inflation report will be released, and accelerating consumer inflation is forecast.<\/p>\n<\/div>\n<\/div>\n

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DAX leads European indices rally<\/h2>\n<\/div>\n<\/div>\n

European stock markets\u00a0<\/b>rallied Tuesday after President Xi Jinping said Beijing will cut car import tariffs and expand foreigners access to financial and manufacturing sectors. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>continued gaining against the dollar. The Stoxx Europe 600 rose 0.8%. The German\u00a0DAX 30\u00a0<\/a>jumped 1.1% to 12397.32. France\u2019s\u00a0CAC 40<\/em>\u00a0gained 0.8% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>rose 1% to 7266.75. Indices opened 0.1% – 0.2% lower today.<\/p>\n

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European indices were buoyed also by 4.7% rally in Bayer after the US Justice Department signaled it no longer objected to chemical group\u2019s $62.5 billion deal to buy Monsanto. Auto maker stocks also rallied, led by Volkswagen, up 4.5%.<\/p>\n<\/div>\n<\/div>\n

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Asian markets mixed<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mixed today.\u00a0Nikkei\u00a0<\/em>fell 0.5% to 21687.10 as yen turned higher against the dollar. Chinese stocks are rising as China\u2019s central bank governor said the daily trading quota for the country\u2019s stock-connect system with Hong Kong\u2019s market will quadruple next month to 52 billion yuan ($8.27 billion) for northbound flows: the\u00a0Shanghai Composite Index\u00a0<\/em>is up 0.6% and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is 0.5% higher. Australia\u2019s All Ordinaries Index is down 0.5% with Australian dollar edging lower against the greenback.<\/p>\n

\"AU200\"<\/p>\n

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Brent\u00a0<\/a>slides<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are edging lower today as traders expect US inventories rose last week. The American Petroleum Institute late Tuesday report indicated US crude inventories rose by 1.8 million barrels last week to 429.1 million. At the same time the US Energy Information Administration said on Tuesday that it expects domestic crude oil production in 2019 to rise by more than previously expected. Prices rallied yesterday: June Brent gained 3.5% to $71.04 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.<\/p>\n

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets US stocks rally as trade tensions ease US stock indices\u00a0closed sharply higher Tuesday as pro-trade statements by Chinese President Xi Jinping eased trade war concerns. The\u00a0S&P 500\u00a0rose 1.7% to 2656.87 led by energy and technology shares. Nine of 11 main sectors ended higher.\u00a0Dow Jones\u00a0industrial average climbed 1.8% to 24408. The\u00a0Nasdaq\u00a0composite index outperformed gaining […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-124955","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/124955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=124955"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/124955\/revisions"}],"predecessor-version":[{"id":124961,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/124955\/revisions\/124961"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=124955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=124955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=124955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}