Despite the shortened trading week due to the Thanksgiving holiday in the U.S., and seemingly positive progress in the trade talks between the U.S. and China earlier in the week, uncertainty surrounding the U.S.-China relationship continues to be the primary driver for market volatility.
I was stupefied at what I was reading. A Bloomberg article earlier this month reported that JP Morgan and Citibank were significantly reducing their gold positions or closing them out entirely.
The U.S.-China trade dispute continues to provoke uncertainty and volatility in all markets. The impeachment inquiry into President Donald Trump’s dealings with Ukraine also continues to foster division and gridlock within the U.S. government.
The ongoing trade dispute between the U.S. and China continues to spark volatility in all markets. The first public hearings in the impeachment inquiry into President Trump’s July 25 phone call with the President of Ukraine got underway this week but equity markets seemed to largely ignore the spectacle and the political uncertainty it could cause, choosing instead to simply shoot higher on nothing more than the tenuous hope that the U.S. and China were “close” to reaching a trade deal.
Headlines regarding the ongoing trade dispute between the U.S. and China were again the primary drivers for market moves this week. It is increasingly odd that the mainstream media seems to find news coming out of China more reliable than their sources based in the U.S.
It was a heavy news week as the Federal Reserve took further action on interest rates, the October Non-Farm Payrolls report was released, and the impeachment inquiry into U.S. President Donald Trump gained traction in the House of Representatives.
1. As fears of further trade war escalations between the U.S. and China seem to be fading, eyes are turning to next week’s Federal Open Market Committee meeting by the Federal Reserve. Analysts will be parsing every word of Fed Chair Powell’s statements at the conclusion of next week’s meeting for indications on the near-term…
Hopes that were lifted after last week’s “phase one” deal was worked out between U.S. and Chinese officials as markets were closing on Friday did not remain elevated as the week began.
The ongoing trade dispute between the U.S. and China remained the main focus for mainstream media outlets this week.
1. The political pressure against President Trump continued to escalate as the impeachment inquiry got underway this week. The entire inquiry appears to be based around whether Trump pressured Ukraine’s president to conduct an investigation into the Biden family and Trump doubled down this week when he said, during a televised interview with reporters as…