Forex Marketz Daily Forex News – Fully Markets Update
European futures are pointing to a lower open across the Continent and in London for the European financial markets. Traders in Europe are increasingly worried over rising trade war tensions between the United States and China and Brexit news.
Futures are showing that the European benchmark in London, the FTSE 100, is ready to open down 31 points at 7300.80. In France, the CAC 40 is ready to open down 26 points lower at 5,378.98 ad in Germany, the DAX is set to open 75 points lower at 1,096.40.
Overnight, Wall Street was lower as sentiment worsened in the tech sector. The U.S. is threatening more sanctions on Chinese telecom giant Huawei starting on August 19. Nearly $11 billion went to U.S. companies including Qualcomm from Huawei, Intel and Micron Technology, in 2018. Shares of Qualcomm fell lower on the news.
Asian markets, this morning, were lower. The MSCI Asian index fell lower as did the Nikkei 225 in Japan which lost 0.7 percent.
Asian Traders Worry over Mounting Trade War Tensions and Brexit
There are headlines that the United States will slap sanctions on Chinese technology company Hikvision. This is increasing trader worries about their ongoing trade war. These tensions are weighing on market wide sentiment. Sentiment was briefly better after the U.S. moved to temporary ease sanctions against China’s Huawei Technology for 90 days. This is giving other telecom providers a chance to find an alternative solution.
The Brexit saga is also hurting sentiment. There is increasing pressure on U.K. British Prime Minister Theresa May to resign. This comes after her new Brexit deal, or attempt to find a consensus, backfired. A key ally of May has also resigned from her cabinet.
