After months of pain, global stocks and assets are trying to rebound.
The last two sessions have brought a sudden flow of positive news. So far, it seems to be shifting sentiment away from trade wars and currency crises to optimism and value hunting. We’re seeing that in the euro (@EC) and emerging markets.
These are the items today:
Those headlines follow other positives on Wednesday:
Furthermore, inflation’s running cold in the U.S. August’s producer prices and consumer prices rose less than expected, on both a headline and core basis. While this isn’t good for global stocks per se, it takes some hawkishness away from the Federal Reserve. That, in turn, is marginally positive for foreign currencies.
In conclusion, there’s been a one-way drumbeat of negativity toward global assets for months. But they’re finally getting some positive news and trying to bounce.
This article was written by David Russell, TradeStation Securities, Inc., part of the Monex Group Inc, published on 13/09/2018.
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