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Market Recap – US-Japan Trade deal

Wednesday, September 25, 2019 10:55 AM GMT

The US-Japan trade deal is close to be signed, according to the Japanese Foreign Minister Toshimitsu Motegi. Tariffs on US pork, US beef and Japanese industrial goods will be included in the deal that is scheduled to be ratified by the Japanese Parliament on October 4. A US commitment to not raise tariffs on autos could be included on the joint announcement of President Trump and Prime Minister Abe.

The British Supreme Court declared that the Parliament Suspension was illegal. UK Parliament opens today, and Boris Johnson is heading back to the UK, following his trip at the UN assembly.

Meanwhile, impeachment scenarios are back in the US politics. This time, Trump is being investigated on the principle that U.S. officials should never allow or encourage foreign governments to interfere in U.S. elections. Note that the House is controlled by the Democrats, the Senate is controlled by the Republicans and for an impeachment to be implemented, both Parliaments would need to agree.

Financial markets are recording a risk-off mode, with equities falling, USD strengthening and EUR,CAD,AUD falling. Cryptocurrencies  tumbled offering trading opportunities to the Traders of the ZuluTrade community.

Macro releases: The central bank of New Zealand has not changed its monetary policy. Today’s economic agenda includes an auction of the German 10y bonds and the US crude oil inventories.

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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