New trading week begins with restraint sentiment in the market. The focus of the players is still upon the theme of US-China trade confrontation. At the weekend, APEC summit took place and this event confirmed that the geopolitical confrontation of US-China is a new reality for the entire Asia region. We know that the trade opposition of the two countries is only a reflection of the geopolitical contradictions. The Americans once again voiced the idea of increasing duties on Chinese imports, the Chinese, in sharp terms, made it clear that this policy could not harm the Chinese economy. We can consider this summit as a rehearsal of the main event of the beginning of December - the G20 summit in Argentina, which starts on November 30. And judging by the reaction of the markets, investors intend to wait for the development of the situation around the meeting of the two leaders, and the risk appetite will be minimal.
The calendar for the current week is relatively empty in terms of statistics, especially since for the American participants the current week will be short, but news from Europe can lead to an increase in volatility. Especially the markets are interested in information on the Italian budget or the development of the situation with Brexit.
Today, the economic calendar of Europe and the United States does not contain important statistical indicators, so geopolitics news will probably have a major impact on trading. On Tuesday, investors will focus on publishing data to the US construction sector.
On Wednesday, economic news from the United States will set tone for trading, data on durable goods orders and a report on sales in the secondary housing market will be presented there.
Thursday is a US holiday in US. In Europe, the focus will be on minutes from the last ECB monetary policy meeting.
Friday is a US day off as well. In Europe, attention should be paid to the publication of data on Germany GDP and PMI of the services and production sectors both for the EU as a whole and for individual countries of the Union.
In the FOREX market the new trading week begins quietly. USD dollar index is trading near the level of 96.30, adjusted from annual highs of 97.50 points. The European currency is trading near two-week highs at 1.1430, as the British pound is under pressure, gold has fixed above the support of $ 1214.
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