Smart money is giving up risky assets after renewed uncertainty over the trade war



The smart money of yesterday's diversion, which has undergone the development of trade negotiations, has shaken the confidence of market participants, but at this stage they are behaving in a disciplined manner. Cash flows without excess drama shifted from risky instruments to defensive ones, with US indices receding from their fresh peaks. The retreat followed in Asia.

However, the temporary postponement of the meeting on December 3 or 4 in London will not leave traders' doubts just to disappear. While uncertainty persists, we will expect short-term withdrawal of risky assets. However, we are in the reporting season, with good results and economic data stabilizing, which can overshadow investors' concerns.

Early indications of European futures indicate that worries are beginning to spread across the Old Continent, but futures indicate a green opening of stock markets in Europe.

In terms of direction, today we will expect gold to shine with silver, and the yen is already attracting smart money as well as the US dollar. The euro is giving way, expecting to remain weak, and the daily chart begins to break through the double peak. Pounds expect BoE events to remain flat with limited movement. Since the beginning of the day the pound is in the red territory, but with minimal change. To the rotation for defensive instruments, today we will expect flows to focus on bonds as well.

Oil begins the day with decreases, but with minimal changes after the larger inventory data and OPEC's statement that they may not reduce yields as much as market participants expect. However, WTI and BRENT prices remain in the uptrend.

 Jr Trader Martin Nikolov

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