Stock markets around the world climbed to their highest mark in 2019 yesterday, as optimism that a breakthrough in trade talks is forthcoming. Talks between the US and China appear to be going well, as Trump tweeted that big progress had been made on ‘soooo many different fronts’. Nothing concrete has been agreed yet, but the news will be welcomed by investors across the globe.
It is another quiet day for the US today, but tomorrow we will see mortgage applications up to 15 February 2019. We will also see the latest minutes from the Federal Open Market Committee meeting. It will be interesting to see whether there are any comments regarding future interest rate hikes this year, although it is likely policymakers will stay on ‘data watch’ which will inform future decisions throughout 2019.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
