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Home / Business / US futures fall with Yuan as Trade Roils Outlook: Markets Wrap

US futures fall with Yuan as Trade Roils Outlook: Markets Wrap



(Bloomberg) – Futures on US stock indices fell and the yuan slipped on Monday after it was reported that China may be increasingly reluctant to agree to a comprehensive trade agreement with the Trump administration. European equities fluctuated and government bonds came in higher.

The contracts for the three major US instruments all receded after a Bloomberg report announced that high-ranking Chinese officials had indicated that the range of topics they wanted to discuss was significantly reduced. The Stock Europe 600 Index battled the trend as a decline in automaker stocks undercut gains on health and food stocks. Japanese equities closed little changed, while the markets in Shanghai are not reopened after the holidays. The offshore yuan has fallen the most since the end of September.

The markets in Hong Kong were also closed for a public holiday, leaving traders with limited ability to respond to escalating violence in the city, where demonstrators were setting fire, and vandalism stations and banks on the weekend. The pound weakened as European leaders expressed doubts about the achievement of a Brexit agreement on 31 October.

Investors' focus will once again be on foreign trade this week, with protectionism as the main obstacle to global growth in China Vice Premier Liu He is traveling to Washington with a group of officials to continue discussions with their US counterparts. As traders do not lose their bets on further Federal Reserve rate cuts, they will look for more guidance on when and how US Federal Reserve Banks could support the US economy by reading the minutes due this week after the last Fed meeting are. [19659005] In other countries, West Texas oil price rose again after the largest weekly decline since July. Bitcoin fell below $ 8,000, the lowest since June.

Some Key Events This Week:

Chinese Vice Premier Liu Er visits Washington for trade talks with his US counterparts. Fed Chairman Jerome Powell speaks Tuesday on the final day of the NABE annual conference in Denver; The following day, a minutes will be published on the last meeting of the Fed Interest Rate Committee. Chinese President Xi Jinping and Indian Prime Minister Narendra Modi meet at an unofficial summit. publishes September inflation data.

Here are the main movements of the markets:

Shares

The Stoxx Europe 600 Index has barely changed at 9:27 London time. The S & P 500 index fell 0.5%. The MSCI Asia Pacific Index was little changed.

Currencies

The Bloomberg Dollar Spot Index rose 0.2%. The pound fell 0.1% to 89.187 pence against the euro. The single currency edged 0.1% to $ 1.0965, up 0.1% to $ 106.84 per dollar. The offshore yuan lost 0.3% to 7.1326 per dollar.

Bonds

10-year government bond yields fell two basis points to 1.51%. Ireland's 10-year yield fell by one basis point Germany's 10-year yield fell two basis points to -0.60%.

Commodities

West Texas Intermediate crude rose 0.6% to $ 53.11 a barrel. Aluminum fell 0.2% to $ 1,716 per ton of copper, up 0.4% to $ 5,663 per ton.

– With support from David Wilson.

To contact the reporters of this story: Cormac Mullen in Tokyo at [email protected]; Todd White in Madrid at [email protected]

. Contact the editor responsible for this story: Samuel Potter at [email protected] [19659020] You can find more articles of this nature on bloomberg.com

© 2019 Bloomberg LP


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