Trade Talks Back In The Limelight; Canadian Inflation Data Ahead

Here are the latest developments in global markets:

FOREX: The is lower today, but by less than 0.1%, giving back some of the gains it posted yesterday. The is on the back foot too, declining more than 0.2% against the euro and 0.05% versus the dollar, following disappointing inflation data out of Japan overnight. STOCKS: US markets closed in the red on Thursday, weighed on by some remarks from US President Trump that he doubts the US and China can reach a trade agreement. The and the fell by 0.22% and 0.21% respectively, while the declined by 0.09%. Market sentiment looks to have reversed though, as futures tracking the Dow, S&P, and are all currently pointing to a higher open today, something likely owed to reports that China has made the US an offer on trade (see below). In Asia, the and the rose by 0.4% and 0.38% correspondingly, while in Hong Kong, the climbed 0.6%. In Europe, futures tracking the major indices were mostly in the red, with the only exceptions being the German and Italian . COMMODITIES: Oil prices are higher today, with and gaining 0.17% and 0.25% respectively. Both benchmarks touched fresh multi-year highs yesterday. Brent briefly punched through the psychological $80/barrel zone, even though EU leaders signaled their continued support to the Iran deal and discussed ways to block US sanctions on European companies doing business with Iran. In precious metals, prices are practically unchanged on Friday, last seen near the $1290 per ounce mark. Ever since the yellow metal broke below the psychological $1300 handle, it has largely traded sideways, reacting little to anything other than moves in the US dollar.

Daily performance 18 May Chart

Major movers: Yen on the back foot; China makes the US an offer on trade

The dollar

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