Market Talk – Thursday, July 11

ASIA:

President Trump tweeted today that China has let us (the U.S.) down by not purchasing American agricultural products as promised. This could impact the possibility of an amicable trade agreement. The positive reports indicating progress seem to have no positive end goal. Trump concluded his tweet with “hope they will soon,” a more optimistic tone rather than the usual ordering.

A new report has shown that countries that are either sanctioned or blacklisted in some way are looking into cryptocurrencies in order to avoid the sanctions imposed by the U.S. China’s former head of the central bank has told the country that they should rethink its plan for a national digital currency in order to beat new currencies such as Facebook’s Libra and the existing bitcoin.

Twenty-two countries have signed a letter calling on China to end their mass detention of Uighur people. The Uighur are a race based in the east of China who are predominantly Muslim. China reacted to this by stating that the accusations are false and there is no widespread surveillance in place.

The major Asian stock markets had a green day today:
• Shanghai increased 2.46 points or 0.08% to 2,917.76
• Kospi increased 21.80 points or 1.06% to 2,080.58
• ASX 200 increased 26.30 points or 0.39% to 6,716.10
• NIKKEI 225 increased 110.05 points or 0.51% to 21,643.53
• Hang Seng increased 227.11 points or 0.81% to 28,431.80
• SENSEX increased 266.07 points or 0.69% to 38,823.11

The major Asian currency markets had a mixed day today:
• AUDUSD increased 0.0029 or 0.41% to 0.6986
• NZDUSD increased 0.0039 or 0.59% to 0.6684
• USDJPY decreased 0.3950 or 0.36% to 108.0650
• USDCNY decreased 0.0027 or 0.04% to 6.8691

Precious Metals:

• Gold decreased 4.59 USD/t oz. or -0.32% to 1,413.68
• Silver decreased 0.03 USD/t. oz or -0.20% to 15.1910

Some economic news from last night:

New Zealand:
• Electronic Card Retail Sales (YoY) (Jun) decreased from 3.2% to 1.1%
• Electronic Card Retail Sales (MoM) (Jun) increased from -0.5% to 0.0%

1 2 3 4
View single page >> |

Disclosure: None

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.