{"id":161683,"date":"2019-12-13T07:48:01","date_gmt":"2019-12-13T12:48:01","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=161683"},"modified":"2019-12-13T07:48:01","modified_gmt":"2019-12-13T12:48:01","slug":"global-markets-rally-on-us-china-deal-hopes","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/12\/global-markets-rally-on-us-china-deal-hopes\/","title":{"rendered":"Global markets rally on US-China deal hopes"},"content":{"rendered":"
December 13, 2019<\/div>
\r\n<\/div><\/div>

By IFCMarkets<\/a><\/p>\n

\n
\n

Dollar weakening halts<\/h2>\n<\/div>\n<\/div>\n

US stocks <\/b> rally was intact on Thursday on US-China trade deal hopes. President Trump tweeted \u201cGetting VERY close to a BIG DEAL with China.\u201d The S&P 500<\/a> rallied 0.9% to new record 3168.58. The Dow Jones <\/em> industrial average gained 0.8% to 28132.05. Nasdaq <\/a> composite index advanced 0.7% to fresh record 8717.32. The dollar weakening continued at steady pace after the Federal Reserve left interest rates unchanged on Wednesday while New York Federal Reserve said on Thursday it would increase the amount of funds it would inject into the multi trillion dollar repo market: live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, lost 0.4% to 96.72 but is higher currently. Futures on US stock indices point to sharply higher openings today.<\/p>\n

\n
\n

FTSE 100 leads European indexes gains as Conservatives win elections<\/h2>\n<\/div>\n<\/div>\n

European stock markets <\/b> advanced on Thursday. Both the EUR\/USD<\/em> and GBP\/USD <\/em> accelerated their climbs yesterday, with Pound higher currently while euro turning lower. The European Central Bank kept its main deposit rate at negative 0.5%, leaving its rate of asset purchases at \u20ac20 billion a month, as widely expected by markets. The Stoxx Europe 600 index ended 0.5% higher led by auto, basic resources and bank shares. Germany\u2019s DAX 30 <\/a> advanced 0.6% to 13221.64. France\u2019s CAC 40 <\/em> added 0.4% and UK\u2019s FTSE 100 <\/em> rose 0.8% to 7273.47. Thursday\u2019s general election results show the conservative party won majority.<\/p>\n

\n
\n

Nikkei leads Asian indexes rally<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are sharply higher today. Nikkei <\/em> ended up 2.6% at 24023.10 with yen slide against dollar continuing. Chinese stocks are rising following reports US trade negotiators had offered to cancel new China tariffs and reduce existing levies on Chinese goods by up to 50% on $360 billion worth of imports: the Shanghai Composite Index <\/em> is up 1.8% and Hong Kong\u2019s Hang Seng Index <\/em> is 2.3% higher. Australia\u2019s All Ordinaries Index gained 0.5% as Australian dollar halted its climb against the greenback.<\/p>\n

\n
\n

Brent <\/a> advance continues<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are extending gains today. Prices ended higher yesterday after reports Washington and Beijing are very close to signing the phase one trade deal. February Brent crude rose 0.8% to $64.20 a barrel on Thursday. And rising oil prices support the Initial Public Offering (IPO) of Saudi Arabia\u2019s largest oil company \u2013 Aramco. Shares of Aramco started trading on the Saudi Stock Exchange, known as Tadawul, on Wednesday. And Saudi Aramco valuation climbed to $2 trillion from $1.7 trillion on its second day of trading yesterday. The IPO is open to investors who have a certain amount of assets, and is structured so that Saudi citizens get extra shares if they stay invested in the company for six months. After six months the company can be listed on other international exchanges.<\/p>\n

\"BRENT<\/p>\n

\n
\n

Gold inching up<\/h2>\n<\/div>\n<\/div>\n

Gold <\/b> prices are recovering today. Prices ended lower yesterday after news China and the US reached a phase one trade deal in principle. February gold lost 0.1% to $1473.40 an ounce Thursday as the uncertainty of the unresolved trade dispute subsided.<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n

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 Dollar weakening halts US stocks rally was intact on Thursday on US-China trade deal hopes. President Trump tweeted \u201cGetting VERY close to a BIG DEAL with China.\u201d The S&P 500 rallied 0.9% to new record 3168.58. The Dow Jones industrial average gained 0.8% to 28132.05. Nasdaq composite index advanced 0.7% to fresh record […]<\/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-161683","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161683","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=161683"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161683\/revisions"}],"predecessor-version":[{"id":161691,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161683\/revisions\/161691"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=161683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=161683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=161683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}