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Stocks launch week with gains, MXN surges on US deal

16:47 10 June 2019

Summary:
- Stocks move higher all around the world in response to the US-Mexico truce
- Safe haven assets pull back amid increased risk appetite
- Deadline to enter Conservative leadership race ends today
- USD outperforms other G10 currencies
- Technical overview: GBPUSD

At the end of the past week investors were concerned about the possibility of US tariffs imposed on Mexico, however, the issue was resolved yet before New York investors headed for the weekend. On late Friday US President Donald Trump sent a tweet where he wrote that both countries reached an agreement. Trump added “The tariffs scheduled to be implemented by the US on Monday, against Mexico, are hereby indefinitely suspended.”

Data regarding industrial production in Italy and the UK for April came in far below expectations, defying market observers’ anticipation of a recovery. Looking at the details one may notice that declines in April were widespread and affected almost all industries except food and tobacco, coke and refined oil, pharmaceutical and computer and electronic.

Insys Therapeutics, the US manufacturer behind Subsys opioid drug, has filed for Chapter 11 bankruptcy protection today. The company and its fentanyl-based drug are said to be one of the causes of the ongoing US opioid crisis. A key point to note is that Insys is the first drugmaker to collapse under accusations of being responsible for the opioid crisis.

This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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