The U.K. Stock market
- The U.K stock market was lower this week.
- President Trump upset markets at the start of the week by suggesting he might wait until after elections 2020 to finalise a trade deal with China – comments he seemed to negate later in the week by saying the trade talks were “moving right along”. A strong U.S. jobs report also calmed fears of a global economic slowdown.
- The Pound reached a seven-month high after opinion polls suggested the Conversatives were holding a comfortable lead ahead of the general election.
- Our Breadth indicator turned neutral this week but our Momentum indicator ticked up again.
The U.S. Stock market
- The U.S. stock market ended a volatile week slightly higher.
- Markets were sharply lower at the start of the week after President Trump decided to reinstate tariffs on Argentina and Brazil and suggested he might wait until after the 2020 elections to finalise a trade deal with China.
- However, later in the week the market recovered strongly after a better-than-expected jobs report and further comments from the President that the trade talks were “moving right along”.
- Our Breadth indicator stayed positive and our Momentum indicator ticked higher again.
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