Investors are starting to feel confident once again as trade war fears are easing globally. This follows news the US and China are willing to negotiate through their trade troubles with each other to avoid upping the ante on tariffs. Analysts have also been downplaying trade war fears suggesting sanctions set up between the two countries wouldn’t be as devastating on the rest of the world as the global economy could easily bounce back.
Overnight the Nikkei was boosted by this investor confidence as the Japanese index shot up 1.5 per cent to close at 21,645.
Oil is down slightly after seeing early-morning gains, the price of crude is 63.17 a barrel.
As investor appetite for riskier assets grows, gold is dropping, down to 1,333 an ounce.
The Loonie has dropped a fraction to 78.29 cents US.
