Markets lose early gains despite Trump trade deal and ahead of US GDP …

Investors continued to greet the US-Mexico trade deal with wary positivity, the European markets just about nudging higher after the bell.

The FTSE, which got that belated bounce on Tuesday as it played catch-up following bank holiday Monday, opened up a few points, a smidge above 7630. There was even less of interest in the Eurozone, with the DAX and CAC at 12550 and 5500 respectively, with investors put off from doing anything else due to concerns surrounding the Italian economy.

Despite more front page worries about the cost and chaos of a ‘no deal’ Brexit, the pound managed to avoid furthering Tuesday’s losses as Wednesday got underway. Against the dollar it was unchanged at $1.287, while against the euro it actually rose 0.2%, lifting off of its recent near one year lows.

There’s really not a lot to work with this Wednesday morning, beyond the various ongoing macro-tensions, leaving investors sitting on their hands until this afternoon’s US Q2 GDP reading.

Source link Google News

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