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Market View

Market Recap – September 11

Wednesday, September 11, 2019 11:04 AM GMT

18 years after the September 11 attacks, the relations between the USA and Afghanistan have not improved. On Monday, President Trump said that US peace talks with the Taliban are dead, making his presidential campaign promise to reduce the US troop at the region, harder. In the meantime, John Bolton, the 3rd national security adviser of Trump’s administration that was considered a hard line hawk and skeptical on globalism and multilateralism, will be replaced.

In Japan, a few weeks away before the planed VAT (value added tax on consumption) raise, Prime Minister Shinzo Abe made a Cabinet reshuffle, displacing his defense minister for being too friendly with South Korea. South Korea, that was recently removed from Japan’s list of favored trading partners, filed a formal complain to the WTO against Japan.

Financial markets consolidate and wait for tomorrow’s ECB monetary meeting. Mario Draghi will be succeeded by Christine Lagarde on October and forward guidance or details on size and the composition of a potential new asset purchase program are highly anticipated. Traders of the ZuluTrade community are noticing that bond yields are starting to pick up.

Macro releases: Yesterday’s macro releases continue having a positive momentum helping the risk-on mode that has been present since last week. Today the focus turns to the Canadian Capacity Utilization rate, as Canada is heading towards the October’s general elections a 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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