Daily review

According to the Washington Post, Trump has accepted a preliminary trade deal that will see China commit to buying agricultural products worth more than $50 billion, commit to intellectual property protections, and improve access of American companies.

The Swiss franc was unchanged as the Swiss National Bank (SNB) delivered its final interest rates decision of the year. The bank left rates unchanged at -0.75% as was widely expected.

The price of crude oil declined as the shares of Saudi Aramco started trading in Riyadh. Brent, the global benchmark, lost 48 basis points while West Texas Intermediate lost 44 basis points.

Global stocks shifted lower as the trade war continued to weigh on sentiment. In Europe, Stoxx 600 declined by 1.1% while in the United States, Dow futures declined by 0.4%.

Global stocks were mixed today ahead of what is set to be a busy week for the markets. This week, the Federal Reserve will deliver its final interest rates decision for the year.

The USD jumped after the Bureau of Labour Statistics (BLS) released jobs numbers for the month of November.

The euro rose against the USD today as the market reacted to a number of negative data. In Germany, data showed that factory orders declined by -0.4% in October after rising by 1.5% in September.

President Trump’s comments suggesting low probability of a US-China deal being reached before the 2020 elections sparked fear across the Asian markets.

Global stocks were mixed today as the market reacted to the latest trade war threats. The Trump administration said that it would increase its tariffs on imported steel and aluminium from Argentina and Brazil.

Global stocks rose today as investors cheered positive data from Asia, Europe, and the United States. On Saturday, data from China Logistics showed that China’s manufacturing PMI reached 50 in November.