Global Stocks Rally Over Improving Market Sentiment

An improvement in market sentiment seems imminent with Asian stock markets soaring towards near nine-month highs. This surge came on the back of US Treasury Secretary Steve Mnuchin’s statements expressing optimism over US-China trade talks being finalized soon. In addition, better than expected Chinese export and bank loan data also helped allay concerns that the global economic slowdown and the market sentiment could start looking up.

Global equity markets have also seen a rally over the Fed putting on hold its plans to tighten rates further and UK being granted additional time to sort out Brexit issues. As the European session gets underway, DAX and FTSE have registered a 0.2% rise, at the time of writing.

According to a Reuters report, Global Economist at Bank of America Merrill Lynch, Ethan Harris, has also expressed positive remarks in the hopes of a “market-friendly US-China deal”. He also stated that the bank remains hopeful that market and political factors will prevent further flaring up of issues related to trade between the two countries.

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Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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