Daily Alert – Tues 26 Nov: US-China phone call boosts equities

Mark NugentDaily Alert, Nov 2019

Daily Alert – Tues 26 Nov: US-China phone call boosts equities.

The markets get a small fillip from reports of a high level call between the US and China and all three US equity indices close at all-time highs. The improvement in risk sentiment is not enough to really move the USD or JPY.

Note – this is the last trading week of the month. Models say that there is likely to be some month-end selling of equities to balance the books in major institutions. In addition, Thursday (and hence Friday) is a holiday in the US so it will be a short week.

I am keeping my eye on the EUR and the AUD and waiting for a decent pullback in equities.

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