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XTB TRADEBEAT

Equities march higher while tariffs take full effect

Summary:

  • Mixed labour market reports from US and Canada

  • US equities trade higher as week’s end looms

  • US-China launch trade war as tariffs take full effect today

  • NZD maintains the position of a G10 leader

On the final trading day of the week we are observing decent gains of US indices. Nasdaq outperforms its two peers mainly on the back of Biogen surge. Biogen, a biotechnological company, announced overnight that in the large clinical test there was a positive reaction to its Alzheimer drug. On the currency front NZD is outperforming other majors while USD is the biggest laggard amid mixed jobs report. WTI is trading significantly higher while Brent pulls back. Despite weakening of the greenback precious metals stay on the back foot.

Given how big the financial markets have grown it is impossible to keep track of and analyze in detail every listed company. In this report we provide you with results and methodology of our research aimed at developing reliable and time efficient strategy of picking stocks to portfolio.

The major event of a day - publication of the labour market reports from the US and Canadian economy - is already behind us. In both cases we saw net change in employment beating expectations. However, the other components of reports do not paint as rosy picture.

While this year is nothing like the previous one for the cryptocurrency market still there is money to be made in this sphere. Bitcoin bulls may be outraged by this statement given the fact that the most famous virtual currency slumped more than 60% since its peak in mid-December but we are not speaking about investors here. We are speaking about cryptocurrency exchanges.

European stock markets have opened higher, but those gains have not lasted too long.Moods have deteriorated following the Chinese announcement with regard to tariffs. Namely, according to the China’s foreign ministry levies on goods imported from the US have been implemented, but not details have been given so far.

Over the past hours we got a lot of crucial reports substantially impacting both currencies as well as stocks. Beginning with the FOMC minutes one may stress that we got a confirmation that the Committee should continue delivering gradual rate increases given that the economy remains very strong and inflation is estimated to run at 2% on a sustained basis over the medium term.

 

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