 US stocks futures and Dollar tumble broadly today after US President Trump indicated that he has no deadline for China trade deal, and could even wait until after 2020 election to make it. If the phase one deal is dragged on, through December 15 "natural deadline", new round of tariffs could be imposed. If that happens, it's a massive difference to the tariff rollback that some investors had been expecting. In the currency market, though, Dollar is just the third weakest for today for now, after Canadian and Euro. On the other hand, Sterling is the strongest one, followed by Swiss Franc. Technically, GBP/USD is set to taken on 1.3012 near term resistance. Break will resume recent rise from 1.1958 to 1.3381 key structural resistance next. EUR/CHF's break of 1.0967 minor support suggests near term reversal. Deeper fall could now be seen back to 1.0811/63 support zone. In Europe, FTSE is currently down -1.62%. DAX is up 0.09%. CAC is down -0.94%. German 10-year yield is down -0.023 at -0.301, back below -0.3 handle. Earlier in Asia, Nikkei dropped -0.64%. Hong Kong HSI dropped -0.20%. China Shanghai SSE rose 0.31%. Singapore Strait Times dropped -0.47%. Japan 10-year JGB yield rose 0.0229 to -0.019. |
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