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Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

Global Markets Gain on Easing Trade Tensions | Canadian Inflation Data in Focus

Published January 18, 2019
  • White House officials are considering rolling back tariffs on China to aid financial markets. The US Treasury Department subsequently denied this leak. Equity markets got a sample of what an easing of trade war tensions could mean as markets rose overnight in Asia and are trading higher in Europe. China has confirmed that Vice Premier Liu He will travel to Washington at the end of the month for an additional round of trade talks.
  • Canadian inflation data is due this morning, economists are expecting another drop of 0.4% in the inflation rate for the year-end. This comes as the loonie remains under pressure, due to the recent sell-off in crude oil.
  • Markets are looking to end the week on a positive note as Japan’s Topix index closed 0.9% higher, followed by the European Stoxx 600 Index is up by 1.0%. Finally, S&P 500 futures are pointing towards a gain at the open, with the 10-year US Treasury yield at 2.766%.
  • Brexit negotiations have once again stalled as Prime Minister May refuses to budge on specific deliverables as she tries to reach a compromise with parliamentary opponents. The pound is trading close to 1.2937 against the dollar this morning.