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European stocks are rising amid US-China trade deal; Stoxx 600 reaches record high

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The pan-European Stoxx 600 added 1.1% by mid-morning, exceeding 416.6 and reached a record high. Core resources grew by 2.3%, as all sectors and major exchanges entered positive territory. Shares of banks and financial services rose 1.4% and 1.5%, respectively. Washington and Beijing announced on Friday that an agreement had been reached pending legal proceedings, a significant step forward after a tiring 18-month trade war. However, market participants asked questions about some of the details of the deal, which remain vague, in particular about the scale of purchases of agricultural products and the prospect of balancing bilateral trade flows in China. Asian stocks on Monday were mixed with mainland China stocks, which jumped amid better-than-expected data on industrial production, while indices in Japan and Hong Kong fell. Returning to Europe, British Prime Minister Boris Johnson will meet 109 new conservative lawmakers in parliament on Monday, promising to move ahead qui
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Brokerage accounts were allegedly hacked with simple email fraud. Here's how to protect yourself

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In November, prosecutors in Brooklyn said a Lithuanian man and an unknown accomplice emptied user brokerage accounts, stealing hundreds of thousands of dollars. Losses would be much greater if not for a group of investors who took several simple but tricky steps to prevent fraud. Vytautas Parfionovas allegedly worked with accomplices to trick one-day traders and their financial advisers into liquidating securities, sending cash through brokerage houses, and creating new fraudulent trading accounts in the names of the victims. The complaint against Partfionovas looks like a list of what you can and cannot do to protect your accounts from one of the most common and expensive types of electronic fraud. Here is what you need to know. What is email compromise? There are many types of compromised business emails, but in all of them, the fraudster uses electronic means of communication, usually email, to convince someone to transfer money to an offshore account. A fraudster often
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The Fed directed $70.2 billion in Short-Term liquidity into markets

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Money market operations are aimed at ensuring sufficient liquidity of the financial system. The Federal Reserve Bank of New York added $70.2 billion of temporary liquidity to financial markets. The invasion on Tuesday consisted of two parts. One of them was in overnight repurchase agreements totaling $41.7 billion. The second made a 13-day repo for $28.5 billion. The Fed has accepted all the securities offered in both transactions. Central bank repo transactions take treasury and mortgage-backed securities from the respective banks, which in fact, is a short-term loan of the central bank's funds secured by securities. The Fed's money market operations are aimed at ensuring that the financial system has sufficient liquidity and that short-term borrowing rates are stable and consistent with the Fed's goals, while the rate on federal funds of the central bank remains within the range of 1.5–1.75% target range. The effective rate of federal funds on Monday was 1.54%.
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US investors refrained from purchasing

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On Monday, December 9, key stock indices of the United States of America finished trading in negative territory, taking a short pause after a significant growth session earlier. In the absence of vital macroeconomic statistics, bidders focused on M&A events. In addition, investors' attention this week will be directed to the outcome of the meeting of the European Central Bank and the Fed Open Market Committee. The concern is caused by continuing uncertainty in trade negotiations between China and the United States. The parties have repeatedly stated that the first phase of the trade agreement may be signed soon, but this has not yet happened. Moreover, an important date is approaching. It is likely that if the deal is not signed before December 15, the United States will introduce an additional 15 percent tariff on imports of goods from China of $156 billion. At the end of the session, the Dow Jones Industrial Average blue-chip indicator dipped 0.38% to 27909.60 points
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Euro fell to a two-year low

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Euro fell to $1.0929 this week. This is the minimum since May 2017. Analysts believe that the demand for the dollar will continue to grow in the coming months, while the euro may become even cheaper. The euro fell to a multi-month low against the dollar after the release of weak eurozone statistics. It reinforced investor expectations for a further cut in rates in Europe. The meeting of the ECB (European Central Bank) will be held next week, September 12. Markets expect that the Central Bank of Europe lowers its base rate by 20 basis points. Now it is -0.4%. Market participants estimate the probability of a rate cut by 80%. The Central Bank may lower interest rates as economic growth slows, and Germany’s GDP goes negative for the second time in a year. The depreciation of the euro also contributed to fears of a slowdown in global economic growth due to a trade conflict between the U.S. and China. September 1, the United States increased duties on Chinese goods for $300 billi
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Oil prices mixed up as the market watches the trade war

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Oil prices were mixed on Tuesday as the ongoing trade war between the U.S. and China weakened the markets, while South Korean data reinforced concerns about emerging markets and OPEC production growth. CLc1 in the U.S. fell by 21 cents (0.4%), to $54.89 per barrel, while Brent LCOc1 rose by 5 cents to $58.71 per barrel. This week, the United States set 15% tariffs on several Chinese goods, and China began to introduce new duties on the $75 billion target list, deepening the trade war, which has been going on for more than a year already. Donald Trump, the U.S. President, said that the two sides will still meet for talks later this month. It turned out on Tuesday that the economy of South Korea showed that during the second quarter the country's economy expanded less than was expected, as exports fell due to the trade dispute between the United States and China. Production of the Organization of the Petroleum Exporting Countries (OPEC) rose in August for the first month
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Why does the Bank of England need a global cryptocurrency?

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Presently, the dollar as a global reserve currency plays a huge role in the international economy. It often acts as a unit of account in transactions and plays a vital role in global stock markets. However, amid President Trump's trade war with China, central bankers begin doubting whether the dollar can maintain its status. Foreign traders invest in US bonds, the influence of the dollar on the world stage is growing. However, this should not be so. During the speaking at the Jackson Hole Economic Symposium, Mark Carney, Governor of the Bank of England, proposed replacing the US dollar as a global reserve currency with a "global alternative" to the US currency. Carney supported the idea of creating something that resembled Facebook's Libra cryptocurrency. He also wondered if the new global currency would "be best provided by the public sector, perhaps through a network of digital currencies of the central bank." A single global currency, which Car
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