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Trade talks lift sentiment

The imminent recommencement of trade talks between China and the US and public canvassing of options by the White House lifted sentiment overnight. The Euro snapped a week long losing streak, bond yields rose, oil jumped and shares in Europe and the US surged.

Reports that President Trump will consider extending the March 1 deadline for the imposition of tariffs as key trade officials arrived in Beijing triggered the moves. The market reactions indicate the trade disputes are the key factor for traders and investors. A statement to the UK parliament by PM May was widely interpreted as a bridge building attempt to buy time for Brexit negotiations, underscoring optimism. The impending potential US government shutdown, set for Friday, appeared to have little impact on trading.

Asia Pacific futures markets are all in positive territory this morning. Australian investors have much to consider as twelve of the top two hundred companies report half year earnings. The results are skewing negative so far, and combined with weaker metals prices and political chaos in Canberra there is potential for downside surprise.

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