Tariffs to dominate week ahead
Fiona Cincotta December 9, 2019 10:51 AM
The FTSE has started the week in defensive territory, shrugging off the stronger close on Wall Street brought on by positive US job market numbers.
The FTSE has started the week in defensive territory, shrugging off the stronger close on Wall Street brought on by positive US job market numbers. An eclectic mix of FTSE fallers was lead by Phoenix Group and information technology firm Aveva.
On UK markets in the week ahead all eyes will be on the election on Thursday – except on Tuesday when the latest UK monthly GDP numbers will be released – but for global stocks the more decisive trade signal will come from the build up to the December 15 China tariff deadline. The latest comments from the US indicate that if China doesn’t offer more meaningful reassurances on the protection of foreign intellectual property the US will go ahead with plans to bring in additional tariffs on Chinese imports.
Pound bounces higher on latest polls
The pound continues to firm in the build up to the election; it has hit the highest level against the euro in almost three years and is trading at 1.3155 against the dollar. The enthusiasm is linked to expectations that a Conservative win would finally bring a resolution to the Brexit deadlock but this is far from given.
On top of the election there is a busy schedule of UK earnings in the week ahead starting with Ashtead Group on Tuesday followed by Stagecoach and Ted Baker on Wednesday, TUI, Dixons Carphone, Purplebricks and Ocado on Thursday, and finishing with Balfour Beatty on Friday.
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.