On Tuesday, global markets sentiment deteriorated again and the equity recovery that started on Monday did not continue. In principle, the first half of this week was supposed to be quite in markets, it was expected that stock markets would consolidate in anticipation of the strategic event of the beginning of December-G20 summit in Argentina, which could put an end to the trade contradiction between China and the United States. At least there were good reasons to believe so. However, events took a different turn. The American president, true to his carrot and stick approach, voiced the threat of even higher tariffs on Chinese imported goods. Trump announced the possible introduction of new restrictive measures against Chinese goods, which may affect all imports from this country. President’s administration plans to implement such measures if the Trump and Xi Jinping talks at the G20 summit in Argentina do not bring the desired result. In other words, it is a threat, and an attempt of advance pressure on the Chinese leader.
Sales in stock markets, risk-off mode and a general deterioration in market sentiment still support the US dollar. The US dollar index marked the session highs around 97.18 area. However, it is interesting enough that the European currency, being under strong pressure during the whole trading day, could not break below the round level of 1.1300.
After a massive collapse, when Brent quotes fell to annual lows, oil adjusted on Monday. At the same time, the movement of the market was not due to some fundamental reasons, but was due to technical factor of oversold conditions.
Despite yesterday's growth, general tension in the oil market persists, as evidenced by the volatility of oil prices. Investors are still deeply concerned about the uncertainty of the future development of the oil market.
Today, redrawing the oil market, investors focus will be upon new data from the API, but many investors believe that even if positive data is released, the market situation is unlikely to undergo serious changes until OPEC resorts to specific market regulation measures. OPEC meeting is scheduled for early December, respectively, until this time, the oil market is likely to remain under pressure.
WHAT ARE THE BENEFITS OF MEGAPROTECT BONUS? +100% of the deposited amount! 100% protection during the drawdown Up to 5000 USD per one account Up to 15000 USD per one profile
FortFS wishes its clients happy upcoming holidays and announces the start of the annual promotion – Christmas Fairy Tale! From December 02, 2019 to January 10, 2020 you can participate in the promotion and get up to $15 for every 10 closed lots with a trading account balance starting from only 100 USD! How to […]