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US President Donald Trump is planning a new meeting with PRC President Xi Jinping

  • 2019/03/18
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US-China trade negotiations continued successfully in Washington. On Friday US President Donald Trump met with Chinese Vice Premier Liu He. Following the negotiations China agreed to purchase 10 million tons of US soybeans. Donald Trump announced plans to meet with head of China Xi Jinping. Investors positively perceived this information. On the expectation of reducing global risks, the growth of US and global stock indices continued last week. US dollar index fell slightly over the week. The materials of the January Fed meeting imply only one rate increase in the current year. Moreover, it can occur only in conditions of excessive growth of the American economy and inflation.

In the world currency market, the British pound showed the most noticeable strengthening during the week. The UK government does not rule out a postponement of Brexit, unless the country's parliament approves its mechanism until March 12 of this year. The UK exit from the European Union is scheduled for March 29. The euro slightly gained due to a number of positive macroeconomic indicators, and in particular the record surplus of Germany’s current account. An important factor in the strengthening of the euro was the confirmation of Italy’s credit rating by Fitch at BBB. This can reassure investors who were afraid of the default of Italy against the background of the budget crisis in this country.

Hong Kong's Hang Seng became the growth leader among stock indices. This was due to the successful continuation of the US-China trade negotiations. Chinese yuan strengthened to a 7-month high. Japanese Nikkei moved to 2nd place. Among the major global stock indices, only the FTSE 100 dropped during the week. This was due to the negative corporate reporting of individual British companies.

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