Reliance Trading Co. Limited – US Markets Positive, ECB Meet

U.S. equity futures climbed with Asia stocks on Thursday as signs of goodwill in the trade war boosted risk appetite, while European shares fluctuated ahead of a key meeting of the region's central bank. Treasuries edged higher.
By: Reliance Trading Co. Limited
WAN CHAI, Hong Kong - Sept. 12, 2019 - PRLog -- Contracts on the three major U.S. gauges pointed to positive open on Wall Street, while shares climbed in most of Asia after President Donald Trump said he will delay the next U.S. tariff increase on China by about two weeks and following reports Beijing is considering American farm imports. Hong Kong equities dipped, weighed down by a slide in shares of the city's exchange following a surprise takeover bid for its London counterpart. The yuan strengthened.

The Stoxx Europe 600 Index erased an earlier gain as the euro strengthened and most regional bonds climbed ahead of the ECB gathering, where most expectations are for policy makers to lower the deposit rate and commence a new round of monetary stimulus. The pound drifted as investors awaited the next twists in the Brexit saga. Oil fluctuated as the International Energy Agency warned OPEC it faces a "daunting" surplus of crude in 2020.

The steps by China and the U.S. to ease tensions ahead of face-to-face talks in Washington in the coming weeks are helping support sentiment as investors await monetary policy decisions from the world's major central banks. Trump said he was moving back a 5% increase in tariffs on a swathe of Chinese imports by two weeks, while Beijing may allow companies to resume purchases of U.S. agricultural products, according to people familiar with the situation.

In addition to Thursday's ECB gathering, the Federal Reserve is meeting next week, with some traders paring expectations of accommodation and August's bullish bond sentiment fading.

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