European stocks went up across the board on Monday. The investors were very enthusiastic about the good news concerning the US-China trade war. Commerce Secretary Wilbur Ross announced over the weekend that US companies could shortly apply for licenses to trade with Chinese telecom Huawei. This highly controversial company leads the 5G tech revolution and, at the same time, is closely connected to the Beijing government.
Opening BUY orders on the European and Asian indices and companies proved to be the right strategy for many SimpleFX investors. SimpleFX WebTrader is a go-to app for every kind of trader, especially those who like to trade on mobile and react to the news in the right order.
Stock and Indices are an exciting alternative to Forex and Cryptocurrencies that are often completely unpredictable. The biggest European stock markets went up on the news. Taking a long position with high leverage could result in a nice profit. DAX40 going up 1.22% in just a few hours, could payout as much as 50% profit.
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Huawei was the most prominent Chinese company blacklisted by the Commerce Department. The reason was a suspicion of national security threats.
The stock market was down recently because of fears of the trade war. A tariff race between the US and China would drag the global economy down. Fortunately, both Washington and Beijing had too much to lose and could continue the cooperation.
This was enough for the stock to climb to near 2.5-year highs. The US stocks followed. London’s FTSE100 and Frankfurt’s Dax30 gained over 1 percent. Siemens Helthineers and Ryanair were the most wanted companies.
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The positive signals from the US administration sparked optimism in the market. Goldman Sachs analysts stated that they “no longer believe tariffs will increase further.”
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This coincided with good news from the American economy, where the jobs added in October turned out to be higher than expected. This made it possible to believe that US manufacturing won’t slow down as it had been expected earlier.
The Sunday declaration boosted the Asia markets as well. Hong Kong’s Hang Seng index rose 1.7 percent and hit a three-month high.
Wilbur Ross told Bloomberg TV the US might not need to impose its planned 5-15% tariffs on European and Asian cars thanks to some positive discussions. The automotive sector surged, giving the insightful SimpleFX traders other profit opportunities.
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