Equity investors kicked off new week in stellar moods. In turn we saw gains all across the globe with Chinese Hang Seng adding as much as 2.5%. In Europe gains were seen on every major stock market. The Italian equities were lagging for the bigger part of the session but even they managed to climb above the break-even line.
Upbeat moods are clearly visible on Wall Street where S&P 500 and Nasdaq broke to fresh record highs. Advance was additionally boosted by the US and Mexican Presidents announcing a bilateral trade deal between two countries. Little details are known so far. The deal is said to have its name changed from NAFTA to the one that would more closely reflect US and Mexico involvance. With the bilateral agreement in place Canada may be one the way to join negotiations shortly.
The speculations about striking the deal were present on the markets since today’s trading began and because of that the Mexican peso was trading higher against the USD for several hours now. The gains accelerated after announcement. Apart from that, euro is the top performing major currency while USD is the biggest laggard. Moreover, the Turkish lira resumed its decline today and is trading around 2% lower against the US dollar at press time.
Precious metals are trading higher today on the back of the USD weakening. Palladium and platinum are both surging almost 2% at press time while gold and silver account more modest increase. Grains and soft commodities are trading mixed.
Keep in mind that today’s trading was a little bit muted as the UK traders were off for the holiday.
