03 Dec

There are Brexit differences of opinion maintained in trade negotiations.

December 3, 2020

by JustForex

According to a senior EU diplomat that was attending the closed briefing, the EU’s Brexit negotiator told 27 national delegators in Brussels that there are differences of opinion maintained in trade negotiations of the UK. The diplomat said disagreements still cover three main issues when he was asked about the overall orientation of Barnier’s updated information for the EU Member States on the latest Brexit trade talks.

The unemployment rate in the euro-zone fell slightly in October according to the Eurostat data. The unemployment rate fell to 8.4% in October from 8.5% in the previous month. The rate followed economists’ expectations. The decline in the unemployment rate gives a good signal for positive shifts in the eurozone economy.

According to published data from Caixin Media, China’s service sector PMI rose to 57.8 in November, and up from 56.8 in October. Most economists associate this growth in the service sector in November with the strong development of new businesses, which have been developing at the fastest pace in more than a decade. Further recovery in consumer demand issue also provided strong support to the PMI in the Chinese services sector. The Chinese economy is demonstrating recovery from the pandemic consequences, making China one of the most investment-attractive countries at the moment.

Oil prices have corrected after falling. WTI oil prices are currently trading at 45.20.

Market indicators

Yesterday, the S&P 500 hit its all-time high. Investors got to know the news on coronavirus vaccines, anticipated new fiscal stimulus, and evaluated data on job opportunities growth. The Dow Jones index closed with an increase by 0.2% to 29.883.79, the S&P 500 – by 0.18% to 3.669.01, while the Nasdaq fell by 0.05% to 12.349.366.

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The dollar index is in a downtrend and is trading at 90.97.

The 10-year government bonds yield remains stable at 0.94%.

It is worth paying attention to the news feed for today. At this time, we recommend traders to be careful when making transactions due to the increased volatility.

The news feed for 2020.12.03:
  • – UK Composite PMI at 11:30 (GMT+2);
  • – Services PMI at 11:00 (GMT+2);
  • – Initial Jobless Claims in the US at 15:30 (GMT+2);
  • – US ISM Non-Manufacturing PMI at 17:00 (GMT+2).

by JustForex

 

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.


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