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Global Stock Rally Dissipates Through Profit Taking

2020-01-14 18:31:11

This article will have in its content everything covered regarding the global bullish streak of shares.

 On Tuesday, European stocks fell, which is primarily due to traders using their previous days' highs, as well as waiting for the US-China trade deal to be signed and Wall Street's first corporate results this week.

What are the events that are entering this global stock rally?

 We have that in Asia the MSCI Global Equity Index reached a new high after China reportedly had strong trading activity, and the US removed the designation against China that labeled it a currency manipulator, causing investors to rally, but the opening in Europe changed the trend, It was difficult for traders to find the reasons for the losses. At the opening, the stock markets fell in London, Frankfurt and Paris, which placed the European benchmark STOXX 600 at 0.5 percent, meaning that bonds and other safe haven assets were in high demand.

 This was very encouraging news from China, as the decision to remove the US from the list of currency manipulators is expected to cause prices to fall again, according to Andy Cossor. In the early hours of the morning it was noticed that the Chinese yuan fell, which had not happened since the July highs, after the country's label was removed in August.

What do we have about the global stock rally in China's commitments?

 From $80 billion is the commitment to buy goods from U.S. manufacturers in the next 2 years by China, apart from about $50 billion in energy supplies, this under the trade agreement, the trend in Europe passes to the time that Wall Street and other future U.S. indices are down from those marked on Monday.

All this is happening under the same atmosphere of the Chinese delegation to Washington, where on Wednesday the signing of the trade agreement will take place, in what is called phase one, which should represent the normality of the tensions that exist between the two largest economies in the world. Japan's Nikkei index rose by 0.7 percent from monthly highs, In contrast to the movements in Europe, before losing momentum, it was found that the Hong Kong and Shanghai stock referential reached a maximum. In the case of gold, one of the existing safe assets has started to distance itself from the minimums that it reached in two weeks, even though its price is still negative by 0.3 percent on the day, being at 1543 dollars an ounce.

 We conclude our article, in which we address the issue of the global bullish streak of stocks, our expectation is to support our readers and with this content we hope it will be so.

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