Wall Street closed the week on a terrible note, as the trade, businesses have to grow, and the horrible data encouraged investors to head to the line of touch. Risk aversion is a three-headed monster today, with the resurgence of trade tensions between the two largest economies, record-low readings for the two of US, retail sales and industrial production, and the partisan politics that will likely lead to the postponement of the next tranche, or a toy.
President, He seems determined to keep the pressure on China, in spite of what immediate impact it might have with the economy and the stock market. In what many believe to be a vulnerable time for the world, as well as in the UNITED states, clemency was somewhat expected, of the united states to China, in the provision of their share of the phase one trade agreement. President of Asset repression Huawei-block-key-supplies-needed-for-its-new-high-speed wireless networks. China has reported a number of counter-measures will be placed on U.S. companies such as Qualcomm, Cisco, and Apple, and the production or the purchase or Boeing aircraft.
The Department of Commerce of the evolution of the export of the rule also punishes the taiwanese TSMC. Yesterday, TSMC has confirmed that they are going to build a semi-conductor lab in the state of Arizona, a commitment of $ 12 billion in costs that will create 1,600 jobs. While tensions between the united states and China continue to heat, the figures are still high, the relationship remains intact, that the two economies are closely linked. He is climbing may have kept the pressure on China to hold up their end of phase one and of the trade agreement.
The u.s. economy for the month of April was disastrous, adding to fears or permanent damage to the economy. Do retail sales broke out last month, the record of the dive, while industrial production posted its worst reading of the series, the 101-year history. In the united states, the consumer, is beyond vulnerable, and the economic recovery should see a slow return of the factory jobs.
The only positive point was the preliminary University of Michigan consumer confidence survey. The title is surprisingly rebounded, and the current economic conditions have increased substantially, and the expectations index declined less than feared. This is just one data point, but it reminds us that the month of May, economic data will show signs of improvement.
The House will vote on a $3 billion relief package, it is that it will eventually fail to pass the Senate Republicans. The bill proposed to provide an additional 1 200 $in stimulus check, a risk premium, extended unemployment, and more funding for projects. Are republicans to the wait-and-see-how-the-four massive stimulus packages are helping the economy, or, perhaps, need more time to write their own bill. For most economists, it seems very likely that more financial support is needed, partisan politics, however, likely to see the next round of support will take much more time than the initial response of the corona virus of the pandemic.
WTI crude approached a two-month high as china’s industrial output rose for the first time since the corona virus of the pandemic, of lure, of the hope that the demand of crude oil will soon improve in Europe, and then the united states. China remains the model for economic recovery in the rest of the world, and last night dates, gifts, energy, people a little hope that demand will begin to recover in the next few weeks.
The price of oil extended gains after OPEC Secretary-General Mohammed Barkindo noted that the worst of the oil crisis is over. Barkindo said all the right things: EFFECTIVE + nations, we are in the full cup of the production, and that all options for the cuts in June are on the table.
WTI crude oil price will struggle to break above and stay above the $30 level until the fears or renewed COVID-19 homes, are relaxed.
Gold continues to rise, as the game benchmarks, with the u.s. economic data. Record levels, with retail sales and industrial production, with the escalation of tensions between the united states and China should continue to support rising gold prices.
Gold dipped during the NY open, on a mild profit-taking and that the shares have seen a rebound, but that should not derail the investors to hold positions over the weekend. Gold continues to be a beautiful backdrop or a continuation of the fiscal and monetary stimulus being pumped into the world economy. The UNITED states will be slow-with-the-next-fiscal stimulus-response, but the next week will see further rate cuts from Indonesia, Thailand, Turkey and South Africa.
An attempt to respect and / or $10,000 seems to be the only thing that slowing down is Bitcoin the momentum of growth. The biggest cryptocurrency in the world, it is slightly on what was a slow news day in the crypto-space. The fundamental principles and the growth of institutional interest, to continue to support higher prices in the short term.
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