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Market View

Market Recap – Hong Kong Protests

Thursday, August 29, 2019 10:55 AM GMT

Financial markets cannot switch from the risk-off mode that prevailed during August. Equities are rebounding, but the CNY continues falling, drifting down AUD,CAD,TRY,RUB and MXN against the USD.

New Chinese troops have been sent in Hong Kong. The move was downplayed by China as an annual normal routine, but fears are escalating, as this weekend’s rallies have been banned by the police for the first time.

Italy is having a new government that would be supported by the center left Democratic Party and the 5 Star Movement party, as it has already been noted at the yesterday’s Market Recap.

Macro releases: The last 24hours macroeconomic releases are favoring a market rebound. The European M3 is increasing, the negative yields enjoyed from the German Government are giving enough room for upcoming fiscal spending, the US crude oil inventories were lower than expected, and the French GDP q/q growth is moving higher. Later today, the focus turns to the US preliminary GDPq/q release. Full economic calendar is here.

Disclaimer

The views expressed do not constitute investment or any other advice /recommendation /suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.

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