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Market Recap – Geopolitical risk is falling

Wednesday, June 12, 2019 10:35 AM GMT

Shinzo Abe, the Japanese Prime Minister, is visiting Iran today to smooth out the USA-Iran relations. In addition, President Trump tried to smooth out his relations with North Korea, communicating “I saw the information about the CIA, with respect to his brother, or half-brother (referring to Kim Jong-un, the Leader of North Korea) and I would tell him, that would not happen under my auspices, that’s for sure. I wouldn’t let that happen under my auspices” and revealing that he has recently received a “beautiful, very warm, very nice letter” from Kim Jong-un.

Equities have not continued their recent rally. Currently the Dow Jones and S&P500 futures are testing the 50 Day Moving average.

Macro releases: Earlier today, the Chinese inflation index jumped to 2.7%. Later, the focus turns to the US inflation releases and the US Crude oil inventories, that could potentially determine whether Brent will  stay above the 60$ threshold.

 

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