Categories: world

Deutsche Bank raids; G20 summit; Oil in focus

Trade will be high on the agenda of the G20. Investors will monitor talks between the United States and China…

Trade will be high on the agenda of the G20. Investors will monitor talks between the United States and China for any signs of breakthroughs that would ease tensions and help avoid more tariffs.

President Donald Trump and his Chinese counterpart, Xi Jinping, are scheduled to have dinner on Saturday.

“I think we are very close to doing something with China, but I do not know I want to do it because what we currently have is billions and billions of dollars that enter the United States in terms of customs or taxes “said Trump until Thursday on Thursday.

2. Oil prices in focus: The price of US crude oil has dampened about 22% so far in November. Oil terminals dropped an additional 1

% on Friday to under $ 51, among remaining worried overcrowding.

Russian President Vladimir Putin and Saudi Arabian Crown Prince Mohammed bin Salman, leader of two of the world’s largest oil producers, will meet this weekend at the G20.

The two countries are key signatories for an agreement aimed at reducing supply and price increases. It is said that OPEC and Russia can agree on further cuts at a meeting next week in Vienna.

That’s exactly what Trump does not want. Last week, he tweeted a “thanks to Saudi Arabia” to keep prices down “but let’s go lower,” he added.

3rd More Issues for Deutsche Bank: The German authorities conducted a raid at the Deutsche Bank office in Frankfurt for a second day on Friday as part of a survey of potential money laundering.

The shares in Deutsche Bank decreased by 2%, resulting in a total loss for 2018 to a staggering 48%.

Prosecutors say Germany’s biggest lender is suspected helping clients establish offshore companies in tax havens. Investigators also look at whether Deutsche Bank has failed to report suspicious transactions.

The investigation is due to continued questions about the bank’s business strategy and direction.

4th Global Market Overview: US stock futures pointed lower.

European markets opened in negative territory, while Asian stocks stopped mixed blend.

Dow closed 0.1% on Thursday. S & P 500 throw 0.2% and Nasdaq lost 0.3%.

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5. Economics: The Federal Reserve on Thursday paved the way for an interest rate hike in December, but sent a clear signal to investors that it would pursue more flexibility with its plans to raise interest rates in 2019. [19659002] Protocol from the US Central Bank Policy Meeting in November showed that “almost all participants” agreed that another price increase would probably be “fairly soon” if incoming data matched policy makers with current expectations.

Canada’s GDP report for the third quarter is published at 8.30 ET.

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6. Coming in the week:
Friday
– G20 begins in Argentina


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