The USD dollar rose in overnight trading for the first time in five sessions. European shares rose with the Euro, but a weakening Japanese yen pushed the US dollar index to 99.0. Copper and aluminium rose in London trading as markets displayed a pro-growth tilt. US investors declined to participate, leaving major indices in the red after lacklustre trading.
Trade issues remain central to market action. Negotiators from the US and China began discussions ahead of a high-level meeting on Thursday night. Reports that Beijing is not seeking a broad agreement weighed on late American trading. Potential military action in northern Syria added to investors’ concerns.
Despite the negative finish Asia Pacific futures markets are indicating opening gains as China returns from Golden Week holidays. The Caixin services PMI could drive market action. Consensus is for a steady read of 52.0. However recent activity data around the globe disappointed, and an unexpected drop in the index could see modestly positive sentiment flip into reverse.
CMC Markets Singapore may provide or make available research analysis or reports prepared or issued by entities within the CMC Markets group of companies, located and regulated under the laws in a foreign jurisdictions, in accordance with regulation 32C of the Financial Advisers Regulations. Where such information is issued or promulgated to a person who is not an accredited investor, expert investor or institutional investor, CMC Markets Singapore accepts legal responsibility for the contents of the analysis or report, to the extent required by law. Recipients of such information who are resident in Singapore may contact CMC Markets Singapore on 1800 559 6000 for any matters arising from or in connection with the information.