There has been another key positive development in the trade conflict between the United States and China. As the two countries are currently negotiating, investors are hopeful we would see an agreement soon.
Today, Gao Feng of the Chinese Ministry of Commerce said that the government hopes to acquire assurances from the US that some of the tariffs imposed in September will be revoked, and that the new tariffs scheduled for December 15 will not come to be at all.
After the Chile summit was canceled, it is unclear when and where Donald Trump and Xi Jinping intend to meet. However, the fact that they are still in touch, and that their teams are engaged in active negotiations, is giving optimism to investors and boosting the markets.
The European stock markets continue rising, in large part due to the good news about the trade war possibly coming to an end, and also because European companies such as Lufthansa and Siemens are doing a bit better right now.
In other news, today we expect a statement from the Bank of England regarding the interest rate. An adjustment is highly unlikely at this time. The central bank will probably choose to wait until after the December 12 elections to decide what to do about interest rates.
