U.S. tariffs on Europe could continue, Turkey’s economy shows positive signs, & China expresses discontent with the U.S.
The World Trade Organization has found the EU has failed to withdraw all subsidies to planemaker Airbus, three people familiar with the matter said, a decision likely to permit the United States to maintain tariffs on European goods. Affects Boeing
Turkey is not blackmailing NATO with its rejection of a defense plan for the Baltics and Poland, and has full veto rights within the alliance, a Turkish security source said on Monday ahead of a NATO alliance summit in London. Affects TRY
OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with the talks said. Affects Brent
Turkey’s economy grew 0.9% year-on-year in the third quarter, breaking three consecutive quarters of contraction as it shook off a recession which followed last year’s currency crisis. Affects TRY
China said on Monday U.S. military ships and aircraft won’t be allowed to visit Hong Kong, and also announced sanctions against several U.S. non-government organizations for encouraging protesters to “engage in extremist, violent and criminal acts.” Affects the S&P 500
The British Construction PMI for November will be released. The Chartered Institute of Purchasing and Supply (CIPS) Construction Purchasing Manager’s Index (PMI) measures the activity level of purchasing managers in the construction industry. Affects GBP.
Recall that two weeks ago the United States immediately approved two bills aimed at protecting the rights of Hong Kong citizens. The Chinese authorities were outraged by the decision and promised to respond to US attacks. Yesterday, China imposed sanctions against a number of US non-governmental organizations, and also prohibited military aircraft and ships from entering the city.
The aggravation of relations between the USA and China inevitably entails the deterioration of trade relations. Probably, stock indices will begin to decline in the near future.Stochastic indicator has already sent a signal to the market.
The cost of the metal may rise, as the support level of 1453 showed its stability.
If the asset manages to stay below 0.99800, a false breakdown of the upper boundary of the channel will be confirmed. This will lead to increased bearish activity.
USD/CHF on this day in history
- Since 2000, December 3 has been a trading day 13 times.
- On 39% of those days, the asset ended with growth.
- The maximum reinforcement range was 0.76%
- The trend down was limited to 2.45%.