US government avoid another shutdown
It was a choppy session in the US equity markets as traders and investors around the world still remain hopeful that a deal can be reached between the US and China. The Nasdaq and S&P closed higher but the Dow failed to capitalise on any bullish momentum. Over in the Asia Pac area, the Nikkei 225 played catch up after a public holiday and closed 2.65% higher, while the ASX (-0.30%) and Shanghai Comp. (0.68%) both managed to gain. Two of the biggest news stories overnight came from America, where the Democrats and Republicans managed to reach a deal to avoid another shutdown but apparently, the deal offers Donald Trump far less funding for the wall than he required. Elsewhere, there were reports in financial press that Trump is looking to meet China's Xi as 'very soon' to get the trade war sorted.
In commodities markets, the positive news surrounding the US-China trade war was not enough to push copper higher as the industrial metal sits 0.10% lower at the beginning of the session.
Oil markets are fairing slightly better, as spot WTI trades 0.40% higher this morning after yesterday oil traders rejected a low of $51.15/bbl. Remember we have both the OPEC and EIA monthly reports coming this week.
Gold has also pushed higher overnight despite the risk on theme in equity markets although the US dollar may be the catalyst for this move. The yellow metal now trades at $1311/oz, 0.22% higher.
Today we will be looking out for comments from BoE's Carney, Fed's Powell & Mester, ECB's Nowotny & Lautenschlager, The OPEC monthly oil report and any parliment updates regarding Brexit.