Oil price: sell-off signal for stock markets? Video outlook (german)

Despite rising equity markets, the price of oil yesterday broke out of its slightly upward sideways zone. It fell after Russia refused to cut production in winter. But the price of oil is a key indicator of the state of the global economy. The sell-off should therefore also be an important signal to the equity markets. Those are known to assume that the global economy will recover significantly and that a deal between the USA and China is imminent. But this deal is becoming increasingly unlikely after the US Senate unanimously passed a bill to support the demonstrations in Hong Kong. Beijing reacts outraged and orders the US ambassador to Hong Kong. All this diminishes the probability of an imminent solution to the trade war (which has already been priced in umpteen times by the markets)…

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