Global stock spikes two-month high, American dollar holds forth

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Global stock spikes two-month high, American dollar holds forth

On Monday, the 4th of February, 2019, a gauge of global stocks had spiked to a fresh two-month high, inhaling the renewed breathes of optimism over recent development on technology transfer and forced intellectual property rights, which had been the pointiest end in the recent leg of high-level, high-stake trade talk between United States and China.

On Monday’s market, while the rise of technology and industrial shares had been fueling the Wall St., the American dollar also secured gains for third straight sessions in a row against a stack of global currencies including major currencies such as euro, pound sterling, Japanese Yen, alongside Aussies & Kiwis.

Oil prices had been pulled back on Monday (February 4th) after breaching their highest levels in nearly two months, while the MSCI’s gauge of stocks across the world secured a 0.33 percent gain, breaching a fresh two-month high.

Apart from the gains of Wall St., the Pan European STOXX 600 rose slightly 0.06 percent, as the heavy-duty banking sectors fell following much softer-than-anticipated results from Julius Baer. Besides, the American dollar remained robust, posting a greenback against a stockpile of currencies, including a rise of 0.27 percent to 1.1433 against the Euro.

An improved risk appetite followed by the Friday’s job data had also aided the American dollar to obtain an upswing against the safe-haven Japanese Yen, heaving it to a five-week high, while the crude oil price plunged, following a bunch of disappointing US factory data, rekindling the concerns of a slowdown in the global economy.