Forexlive European FX News 6 Nov: All quiet as news awaited from the US on trade tariff front

Author: Giles Coghlan | Category: News

The waiting game

Other markets

  • Dax: +0.20%
  • UK FTSE: +0.05%
  • Euro Stoxx: +0.26%
  • US OIL: +1.22%
The waiting game

The session can be described like a waiting sandwich, with waiting being the main theme!  It was cautious at the European open and cautious at the end of the London morning session. What was in the middle you ask? A flurry of positive European PMI's that gave the EUR a gentle bid (but doesn't change the fundamental bearish EUR outlook). 

The Asian indices handed over a cautious start to Europe as the market is waiting on the million dollar question, 'Will the US roll back the September tariffs?' 

China wants the US to rollback September tariffs. The US has not confirmed they will or said they won't. The result has been the cautious trading we have had today. as the market waist for a fresh catalyst and is glued to Trump's twitter feed. 

One outside mover was US oil that was bid on some news that Saudi is putting pressure on more production cuts ahead of the Aramco IP listing. Higher oil prices will certainly help that initial sale.

That's all for today folks, and back for my penultimate day tomorrow. Thanks for the good comments along the way and have an excellent afternoon session one and all. 

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