Screen Shot 2018-07-31 at 9.19.30 AM

Wednesday, 1 August 2018

Asian shares were higher on Wednesday, tracking the firmer Wall Street finish though reports that Washington plans to raise tariffs on $200 billion of Chinese goods have put the focus back on volatile Sino-U.S. trade relations.

Global markets inched higher on Tuesday, helped by a Bloomberg report that the U.S. and China were seeking to resume trade talks to defuse the battle over import tariffs.However, later reports that the U.S. plans tariffs of 25 percent on $200 billion in Chinese imports have injected some uncertainty back into financial markets.

The Dow Jones Industrial Average rose 0.43 percent to 25,415.19, the S&P 500 gained 0.49 percent to 2,816.29 and the Nasdaq Composite added 0.55 percent to 7,671.79.

Policy meetings of the U.S. Federal Reserve on Wednesday and the Bank of England on Thursday will also keep some investors on the sidelines, although the U.S. central bank is expected to keep rates unchanged.

The yield on benchmark 10-year Treasury notes was at 2.9617 percent, compared with its U.S. close of 2.964 percent on Tuesday.

The dollar index, which tracks the greenback against a basket of six major rivals, gained 0.1 percent to 94.564. The People’s Bank of China (PBOC) set the Yuan reference rate at 6.8293 vs the previous day’s fix of 6.8165. This is the lowest level since May 31, 2017.

U.S. crude dipped 0.7 percent at $68.29 a barrel. Brent crude gave up 0.4 percent to $73.89 per barrel.

Source : Reuters

Published by prashanti forex

Prashanti Forex is managed by a certified treasury professional with an experience of more than 15 years in Finance and Advisory Business. His expertise come from various organisations, where he has gained knowledge and deep understanding of financial environment. His Principle Objective is providing customised advise with excellent service, committing a relationship based on integrity, understanding, honesty and trust. We are glad to offer you a boutique of services which will enable your organisation to enhance the profitability and efficiently manage the business risks. Our Services are : Treasury & Risk Management Solutions Trade Finance Wealth Management

Leave a comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: