Hong Kong bill impact dampened by US holidays
Fiona Cincotta November 28, 2019 10:07 AM
Just as phase one of the US-China trade deal came within reach Sino-US relations are about to deteriorate after President Donald Trump signed a bill supporting protesters in Hong Kong, thus angering China.
Just as phase one of the US-China trade deal came within reach Sino-US relations are about to deteriorate after President Donald Trump signed a bill supporting protesters in Hong Kong, thus angering China. The timing of it - late Wednesday just as the US was about to break off for Thanksgiving - could have been chosen with an eye on the markets because the impact on Wall Street won't be visible until US traders fully come back on Monday morning. For the time being Asian markets are sliding, Europe has opened lower and US stock futures are also printing weaker numbers.
FTSE lower despite property firms' rally
In London UK home builders rallied across the board, as did British Land and United Utilities. A stronger sterling played a key role here helped by polls showing a firm Conservative lead going into December. But the higher home builder share prices were not enough to offset the declines by Vodafone and specialist metals firm Johnson Matthey.
Pound firms on poll data
Polls have been indicating a Conservative lead over Labour since this UK election race started, so not much change there, but what is new is the latest estimated size of the lead. According to YouGov Boris Johnson could end up with a 68-seat majority in Parliament with the Conservatives expected to win 359 seats while Labour would gain only 211 and Liberals 13. Sterling rallied 0.2% against the dollar before losing ground slightly in early trading this morning.
Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.