Europe’s Markets to Remain Volatile as Investors Wait for the Italy Budget Impasse to be Resolved

Europe’s stock markets are awaiting the outcome of the Italy budget crisis. Most likely, we’ll have some certainty about what really happens in early December. Investors are somewhat worried about the situation, with market prices going both ways.
The Eurogroup is scheduled to meet on December 3 and will most likely discuss the issues faced. Italy’s government are hopeful that there will have a constructive dialogue with European Commission Head Jean-Claude Juncker. Still, investors fear that Italy may be disciplined with EDP measures to be imposed against it.
Meanwhile, traders never stopped watching the US-China trade war developments, with a U.S. government report appeared that accuses Beijing of stepping up efforts to steal technology via network hacks.
Also, investors are awaiting the outcomes of the upcoming meeting between Presidents Donald Trump and Xi Jinping at G20 Argentina 2018 summit in December. If traders understand that trade risks still remain high after the summit, they might reasonably have reason to doubt that the Federal Reserve will raise rates again as planned in its next meeting. So far, the Fed predicts the fourth hike before the year ends, likely coming in December.
Global oil markets are dominated by uncertainty, too, with the oil prices plummeting and then soaring again. Investors are awaiting the OPEC+ meeting in early December with the oil production cut likely to be endorsed to bolster prices. In the medium term, traders are wary that the oil market supply might be too high.
Ivan Marchena, Libertex Analyst

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This release was published on openPR.