U.S. Democrats have their impeachment basis, OPEC gears up to meet, Will they won’t they is the question around a U.S. – Sino trade agreement.
China warned on Wednesday that U.S. legislation calling for a tougher response to Beijing’s treatment of its Uighur Muslim minority will affect bilateral cooperation, clouding prospects for a near-term deal to end a trade war. Affects Gold
U.S. President Donald Trump solicited foreign interference to boost his re-election chances, undermined national security and ordered an “unprecedented” campaign to obstruct Congress, Democrats said on Tuesday in a report that lawmakers will use as the basis of any formal impeachment charges. Affects USD
OPEC is gearing up to deepen production cuts later this week but still needs to agree with allies such as Russia over details of a deal to support oil prices and head off a looming oil glut next year. Affects Brent
Tesla Inc said on Wednesday its Model X SUV has been awarded a five-star rating by the European New Car Assessment Programme (NCAP) in tests that are standards for Europe. Affects Tesla
The United States and China are moving closer to agreeing on the amount of tariffs to be rolled back in a phase-one trade deal, Bloomberg reported on Wednesday, citing sources. Affects the S&P 500
The Canadian Ivey PMI for November will be released. The Ivey Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in Canada. Affects CAD.
Two days ago, at the NATO summit, Donald Trump announced that he had no idea about the timing of a trade agreement with China. Against this background, the US stock market fell significantly. However, yesterday we received new information. A Bloomberg source said the two countries are nearing the completion of the first part of the agreement.
Despite this, the situation with the trade agreement remains unclear. The reason for this is the preparation of the United States to pass a bill aimed at protecting Uighurs living in China. Beijing is outraged by this news.
For this reason, a decrease in the Nasdaq index quotes seems more likely. An excellent entry point would be 8340.
The scenario of the collapse of oil is temporarily losing relevance. Follow the results of the OPEC meeting, which will be published either today or December 6th. If countries agree to reduce production, Brent will rise.
The support level of 0.98550 has once again shown stability. We expect a repetition of the growth cycle of the quote.
CHF/JPY on this day in history
- Since 2000, December 5 has been a trading day 15 times.
- On 53% of those days, the asset ended with growth.
- The maximum reinforcement range was 0.91%.
- The trend down was limited to 1.27%.