US and China Restore The Dialogue, Stocks and Aussie Soar
Stocks reinforced as US and China are about to restart the trade negotiation. DOW touched the maximum of 26145.72 but closed up only 0.11% at 25998.92. S&P 500 surged to 2894.65 maximum but then closed at 2888.92, rising just 0.04%. NASDAQ reduced -0.23% to 7954.23. Meanwhile, China Shanghai SSE reached 2689.06. Nikkei grew 0.99%. Hong Kong HSI was up 1.46%. Singapore Strait Times rose 0.15%. Aussie surged as well on positive job numbers. Greenback and Yen dropped. Loonie is trading as the firmest. Pound is strong too. Swiss Franc and Japanese Yen remained the weakest.
Today, the most notable events are ECB and BoE rate announcements. However, both are expected to stand pat, with ECB holding the main refinancing rate at 0.00% and BoE maintaining its rate at 0.75%. Investors are looking forward to seeing economic projections.
Australian job market increased 44 thousand in August. Full time employment surged 33.7 thousand. Part time jobs rose 10.2 thousand. Unemployment remained at 5.3%. Labor force participation rate lifted from 65.6% to 65.7%.
Japan private machinery orders, excluding volatile ones, were up 11.0% yoy in July. Total machinery orders increased 18.8% yoy. Domestic CGPI rose 3.0% yoy in August. Today, Germany will publish Consumer Price Index, Swiss will announce Purchasing Price Index, US will feature CPI and unemployment claims and Canada will present new housing price index.