US Stocks Massively Recoiled
US stocks have significantly improved as the so-call “first battle of the US-China trade war” was finished. The date for execution of tariffs hasn’t been set yet and US have to go through the process of public input until May 22. The important thing is that the trade war between two largest economies is a rather possible scenario.
The US is about to present some batch of data, including Challenger job cuts, unemployment claims and trade balance. Additionally, a voting member on the FOMC Raphael Bostic will deliver a speech regarding Fed’s rate path.
Today’s release of the Eurozone PMI indices and retail sales figures pointed at a slight downturn. The reaction wasn’t notable, as those numbers were nothing to worry about. The single currency just inched lower. Sterling dropped 0.2% versus the greenback.