Global Markets: Shares rose with "trade" optimism and increased in the dollar
Stocks rose on a global basis following news that the US and China were close to signing a trade agreement that could prevent the US tariffs planned to be applied to Chinese goods, while US index futures contracts moved upwards.
Mining and media companies have helped the Stoxx Europe 600 Index to reach the top of the five-month summit. US futures contracts moved upwards, and in the early days of the Asian session, China and Japan shares showed the highest rise, with some markets returning their earnings as the session progressed. According to sources with interviews, the negotiated trade agreement includes a series of commitments to purchase more serious American products than the more serious protection of Beijing's intellectual property rights. Yuan strengthened before giving back some of his earnings. The dollar rose despite the US President Donald Trump's warning that the dollar is too strong.
"We have all these great titles that can be achieved under the US-China trade agreement, but there is little space to be taken," said JP Craig, the global market strategist, and said, "It's a possibility of frustration. It can spread over a few years. and still have questions on what to buy ".
The signs of progress in the talks between Beijing and Washington have helped revive the rally in global equity markets, which have begun to skip last week. At the same time, while some asset classes, including the Currency, are following a horizontal course, the markets also focus on other developments on these two superpowers.
In order to support China's slowing economy, it is reported that the manufacturing sector plans to reduce the VAT rate by 3 percentage points. At the annual National People's Congress meeting in China, which will start on Tuesday, policy clues can be obtained, and investors will also look at US economic data, including non-farm employment data on Friday.
On the other hand, the pound rose against the euro with the optimism that British lawmakers were advancing in support of Prime Minister Theresa May's agreement, avoiding harsh Brexit, and approached the summit of 21 months last week. Western Texas oil (WTI) marks more than $ 56 per barrel, with signs that the production growth slowed in the US and OPEC deepened production cuts.
Important events to be followed in the market;
* The National People's Congress in China will begin in Beijing on Tuesday. Prime Minister Li Keqiang will announce the goal of economic growth. Chinese People's Political Consultation Conference will be held simultaneously. The meetings will continue until 15 March.
* The Bank of Australia will hold a policy meeting on Tuesday. President Philip Lowe will speak on Wednesday about the housing market.
* Canadian Central Bank President Stephen Poloz is expected to change its interest rates due to the uncertainty regarding housing and investments at Wednesday's meeting, while maintaining the message that borrowing costs will have to rise sooner or later.
* ECB policymakers are not expected to change the benchmark interest rate in the deteriorating outlook environment. President Mario Draghi will hold a press conference on Thursday after a policy resolution.
* The February data, which will be released on Friday in the US, is expected to show a moderate increase in employment. According to Bloomberg's survey, non-farm employment is expected to increase by 185,000 and the unemployment rate to 3.9 percent.
Stocks
* Stoxx Europe 600 Index was up 0.4 percent at 06:36 with New York time.
* Standard & Poor's 500 (S & P 500) index futures contracts rose 0.2 percent.
* MSCI Asia Pacific Index increased by 0.4 percent last week.
* MSCI Emerging Market Index with the 0.1 percent last week made the biggest rise.
Currencies
* Bloomberg Dollar Spot Index rose 0.1 percent.
* Euro against the dollar 0.2 percent of approximately 3 weeks, the largest fall was realized.
* Sterling rose less than 0.05 percent against the dollar.
* Japanese yen rose by 0.1 percent to 111.83 against the dollar.
* Offshore yuan climbed to 6.702 with 0.2 percent, the highest increase in the last week.
Bonds
* US 10-year bond yields fell by one basis points to 2.74 percent.
* Germany's 10-year bond yields fell by one basis point to 0.17 percent, moving for a first time in more than a week.
* Britain's 10-year bond yields rose by a base point to 1.308 percent.
Commodity
* Bloomberg Commodity Index fell 0.1 percent to 80.89.
* The London Metal Exchange (LME) nickel rose 0.3 percent to $ 13,240 per ton.
* Western Texas oil (WTI) rose 0.6 percent to $ 56.11 per barrel.
