Though the stock markets suffered yesterday amid the growing global concerns of a trade war sparked by Donald Trump’s newest decision to introduce even more tariffs on Chinese goods, today equities are faring much better.
Moreover, the US dollar was also able to shake off some of the negative pressure from the worsening trade conflict with China. The American currency floated near 11-month highs earlier today, while the dollar index which measures the USD’s strength climbed to 94.80.
The euro continues to weaken based on statements from the European Central Bank regarding their persistent dovish policies. Moreover, today there will be an important discussion and a vote regarding Brexit in the United Kingdom, which has negatively affected the value of the British pound.
Today we also expect data on oil reserves from the United States. This will likely have an impact on the OPEC meeting later this week, as the oil-exporting countries need to decide on their course for the future.
