Market News & Analysis

Top Story

FTSE rises as China and US step closer

China seems to have agreed to some additional concessions to the US, including committing to buy another $80 billion of goods, ahead of the expected signing of the  first phase of the Sino-US trade later deal this week. This is above the $32 billion of goods that China has reportedly agreed to in Phase 1 of the talks, most likely because this would be the least painful concession for the country to make as contentious issues include protection of intellectual property and bigger concessions for Western companies operating in China.

The FTSE seesawed after opening but ended up trending higher, tracking US stock futures which are positioning themselves for a stronger opening later today ahead of the start of the US reporting season. 

Wells Fargo, Citigroup and JP Morgan will be the first companies to step up to the plate. Their results could be mixed, showing that  lower Fed interest rates eroded some earnings but higher income from trading is likely offsetting the decline.

Taylor Wimpey shares notched higher as the company reported record sales rates, up 5% on the year. However, the company’s outlook for 2020 ended up being only moderately positive as the company expects business to pick up in the second half of the year.

Pound continues to slide

The Bank of England’s shift in view towards interest rate cuts is putting pressure on the pound which is travelling further south from the $1.30 level. The balance of the Monetary Policy Committee is shifting towards a cut if economic indicators don’t improve between now and the Bank's next rate-setting meeting at the end of January.


This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit for the complete Risk Disclosure Statement.

Important Notice:

Cryptocurrencies are not legal tender currency and trading of derivatives on Cryptocurrencies are currently not covered under any regulatory regime in Singapore. Consequently, investors should be aware they do not have protection under the Securities and Futures Act (Cap. 289). Please ensure that you are fully aware of the risks.