Forex Marketz Daily Forex News – Fully Markets Update
European markets are looking at a mixed open on Wednesday morning. European traders are worried that the ongoing trade war between the United States and China is evolving into an all-out technology battle between the two economic superpowers.
Looking at futures, the European benchmark in London, the FTSE 100 are up about 15 points at 7,344. In France, the CAC 40 futures are down nearly three points at 5,382. In Germany, the DAX futurs are up two points to open at 12,146.
Traders are looking at recent headlines between the United States and China. There is a reprieve from the U.S. as they are giving Huawei 90 days to purchase U.S. tech so other telecom firms can find alternatives. This is giving equities a slight boost.
Markets in Asia were quiet today as traders remain cautious. In China, the benchmark indices were mostly flat. The indices in Japan, Australia, Hong Kong and South Korea were all up a fraction.
European Traders worry over Trade Tensions between the US and China
Overnight, the U.S. Department of Commerce granted Huawei a license to buy U.S. goods until August 19. This is to give telecom operators that rely on Huawei time to make alternative arrangements.
In other trade related headlines, the Chinese Ambassador to the United States Mr. Cui Tiankai said that China is now ready to resume trade talks with the United States. He blamed the U.S. for “changing its mind” on tentative trade deals.
