Asia equities begin with a slight positive bias following the similar performance on Wall Street. A late rebound helped the US rest a five-day losing streak, but gains capped before US Consumer Price Index data. Participant’s expectations point to a cooler print which could cause another wave of a dovish reaction across global assets ahead of the FOMC meeting next week.
On the energy front, Energy stocks were outperforming, but traders should be cautious of those exposed to Nicholas’s potential damages/production issues.
On the geopolitical front, US & China relations were in the spotlight, with China media noting a strong military and economic response if the US were to approve Taiwan’s request to change the name of the US embassy from “Taipei Economic and Cultural Representative Office” to “Taiwan Representative Office”.
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© 2019 High Leverage FX - All Rights Reserved.