Market focus
Trade disputes do not subside, putting pressure on financial markets. Against the background of negative sentiment regarding the trade deal, more and more markets are involved in this “tornado”. The United States announced that China had abandoned some previously agreed concessions, which fundamentally changed the basis for the agreement. Such an approach finally destroys hopes for a deal before the end of this week, despite the formal assurance of the Chinese side that they intend to arrive in Washington at the end of the week.
Stocks
China A50 Shanghai Blue Chips Index turned to a decline, dropping by about 1% against Tuesday’s opening levels, being under pressure due to concerns about deal prospects. Futures on the S&P 500 show increased volatility since the end of last week, opening the day lower by 0.45%. The VIX index, the so-called “fear index,” rose to 15.55, the highest level since the end of March, pushing off from levels near 12 at the end of last month. This is a moderately negative signal for the market combined with RSI decline from the overbought area, which increases the chances of a corrective pullback.
The FxPro Analyst Team
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