Asian shares climbed alongside U.S. Equities yesterday shortly after investors were reassured by optimistic words from Donald Trump. The U.S. President said he had a “very good” phone conversation with Xi-Jinping and that an extended meeting will take place during the next G-20 summit, aiming to resolve the trade dispute. The two blocs seem to be motivated to end the trade war and the fact that trade talks have resumed with an optimistic tone is already a good sign, even if the risk of disappointment remains high ahead the Osaka summit.
Photo by Jannik Selz.
However, the mood is slightly different in Europe as investors are now on hold ahead of what is going to be a very busy day with Mario Draghi speaking at the ECB’s forum on Central Banking this afternoon and Jerome Powell giving its traditional FOMC post-decision press conference. Traders expects the two central bankers to confirm the dovish turn observed recently while no cut is expected for this June meeting. European equities remain mixed this morning as a decline in Real Estate offset gains registered by the Banking sector. The Stoxx-50 index is trading sideways between 3,445.0pts and 3,460.0pts. The DAX-30 index is registering the worst performance so far but bulls are still defending the 12,300.0pts zone; the first available resistance is towards 12,355.0pts/12,360.0pts.
