Ed Moya joins me today to recap some of the negative trade developments that are pushing markets lower for the second day in a row. As trade worries are back on the table after some comments made by Trump we are seeing safe assets get another bid. December could be a very important month if the markets continue this slide.
Earlier today Ed Moya joined me for a look ahead to the Brexit debate today. We address how Sterling has bounced over the past couple weeks but there is still a big question mark as to if Brexit will happen. In terms of market moves trade is still dominant which we comment on to wrap up the call.
Ed Moya kicks off today with a look ahead to Trump’s speech at the Economic Club of New York. Trade will be a major focus mostly in terms of the US/China Phase 1 deal and rolling back of tariffs but the US/Europe trade war in terms of auto tariffs could be brought up as well. We also look at the general health of the US markets and the recent weakness in gold.
It’s a touch day for gold and silver investors as both metals are selling off along with other risk off assets. The potential of a Phase 1 Trade deal is being blamed however there is a bigger picture theme of money flowing into equity markets around the world. Ed Moya, Senior Market Analyst at OANDA joins me to share his thoughts on what is driving these big moves down today in safe assets.
While most everyone will be watching the Fed statements and press conference tomorrow there are a couple other important events to watch. Ed Moya, Senior Market Analyst at OANDA joins me to share his thoughts on the Fed meeting but also look to some earnings from big tech, Facebook and Apple. There is also jobs data that will be released and trade updates on the possible Phase 1 deal.
Ed Moya kicks off today by sharing his thoughts on the Canadian election results and what that means for the Canadian economy and monetary policy in Canada. We also comment on the US markets and general shift we have seen toward more risk on assets.
Ed Moya, Senior Market Analyst at OANDA joins me to recap the recent mixed data that is shinning a light on the US consumer. The weak retail sales data is a negative sign but the strong bank earnings are telling a different story. These are both back looking data points but they are important to note as the consumer has been the main support leg for the US economy. We also wrap with comments on the extreme volatility in the Pound all thanks to the recent Brexit advancements.
Ed Moya, Chief Market Analyst at OANDA kick off today by recapping some of the major geopolitical events that are weighing on markets. It has been a continued story where politics are playing a major roll in market moves. The biggest change is that these political factors are sticking around from prolonged periods of time. We discuss the trade war between the US and China and recent events in Iraq and Ecuador that factor into the oil market.
After a disappointing ADP jobs number today that was preceded by the weak manufacturing data yesterday the overwhelming factor pointed to is global growth concerns. As much as Trump wants to push on the Fed to lower rates business are not willing to borrow more money and invest when the global outlook is so cloudy.
Ed Moya, Senior Market Analyst at OANDA joins me to focus on this overwhelming point. We look to the sectors that are showing this as well as some of the upcoming political events that have the potential to either clear up the situation or drive the world further into a recession.
Ed Moya, Senior Market Analysts at OANDA joins me to outline the major driver in the markets. These drivers all revolve around politics ranging from Brexit to trade wars, and now US political issues. The markets have been reacting by selling risk on and continuing to shift into risk off.