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On Wednesday, British equities concluded a bit down. It’s due to the fact trade conflict concerns intensified ahead of China’s highly anticipated responsive duties on American goods. Additionally, the European bloc considered a possibility of an international pact to have duties on car imports cut.
However, the UK pound managed to soar a bit, reacting to a better-than-anticipated outcome on British services sector activity.
The FTSE 100 index headed south by 0.3% coming up with a result of 7,573.09, thus giving up part of Tuesday’s ascend of nearly 0.6%. As a matter of fact, for the week the London benchmark has slumped approximately 0.8%.
The currency pair GBP/USD stood still sticking with $1.3218.
Trading volumes in Great Britain and the European Union were suppressed due to the fact that American financial markets are unavailable for the Independence Day holiday. Apart from that market participants are shifting their attention to the monthly American jobs report to be released on Friday.
Moreover, Donald Trump’s ambitious campaign to fix what he considers to be unfair trade conditions with America’s trading partners keeps to reverberating around the world.
On Friday, China’s supposed to start putting duties on $34 billion of American products, and the Trump administration’s duties on $50 billion in Chinese imports are expected to come into effect on Friday too. To be exact, China’s duties will come true in 12 hours sooner due to the time difference.
Simultaneously, China is trying to urge the European bloc to team up against Trump’s outrageous trade stance at next weekend’s summit.
In June, British services activity demonstrated an eight-month maximum.
Anglo American PLC equities managed to ascend by 2.1%.
J Sainsbury PLC equities tacked on by 3%. In addition to this, Ryanair Holdings PLC RYA managed to add 0.7%.
On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
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