Asian Markets Firm

Asian markets are closing higher as everyone awaits the Trump/Xi meeting this weekend. The hang Seng is currently 319 points higher whilst the Nikkei225 has added 191 points.

Opening calls for DAX and DOW futures currently see both opening 40 points higher whilst the FTSE trades unchanged at this point. We have final GDP numbers out of the US early this afternoon and the G20 meeting kicks off in earnest.

Saturday and Trump/Xi remains the key day and we don’t expect any substantial moves in the markets until early next week. Investors will be looking at their risk profile ahead of the weekend and adjusting accordingly. Alternative investments have benefitted, notably Bitcoin, which has surged 320% since December and trades near $14,000. Don’t rush in!

Not immediately drawn to a trade this morning, looking to sell on rallies in GOLD, DAX and DOW. DAX futures will gap higher at the open but looking for 12,280-300 as an area to sell into. GOLD remains the preferred trade as I’m looking for a pull back to trade below 1400 by the weekend but would like to sell into a rally above 1408-10rather than trade at the current levels