Progress in trade negotiations in the US and China tracks the world's stock race

LONDON (Reuters) – Progress in trade negotiations in the US and China helped drive the world's stock markets to a six-month high on Friday and steered investors away from savings paradise like the Japanese yen.

FILE PHOTO: A woman walks past a market card in Tokyo June 1[ads1]2, 2013. REUTERS / Toru Hanai / Filfoto

In early European industries, the pan-region Euro Stoxx is 50 futures, German DAX futures and London's FTSE futures every step about 0.1 percent.

US Treasury Secretary Steven Mnuchin said he hoped the US and China trade negotiations were closing for a final round.

That, combined with strong Chinese export and eurozone industrial product data on Friday, has lifted global stocks, bottom rates and euros.

The US federal bank is launching a focus on price tightening, and the UK, and delaying its exit from the EU, has also helped lift the mood of stock markets.

"It seems that bullish sentiment has a decent hold for now, and everyone is focused on this year's stock market development," says Naeem Aslam, market analyst at TF Global Markets (UK) Ltd in London.

Worldwide received 0.5 percent, the index is up nearly 15 percent for the year.

Investors this week will examine data – including Germany's ZEW survey and Chinese gross domestic product due Wednesday – for signs of a global economic downturn

Optimism of progress in trade negotiations between the US and China pushed investors away from safe-haven assets such as Swiss francs and against risk currencies

The yen fell towards 2019 low on Monday, and the Swiss franc hit its weakest in nearly One month.

The dollar also weakened slightly so that the euro could cement more than $ 1.13

Furthermore, the risk asked appetite, Reuters reported Monday only to US for dealers have a temperate demand that China limit industrial subsidies as a condition of trade agreement following strong opposition from Beijing.

Stocks and other risky assets have been volatile this year over concerns about a slowdown in the US and other major economies.

The European Central Bank maintained its loose political stance on Wednesday, highlighting threats to global growth.

"The market is bearish Europe. Not enough growth, not enough inflation, too much fiscal passivity and too much ECB dithering for some people's taste," said Societe Generale analyst Kit Juckes.

In goods, oil delivered major milestones last week, with Brent breaking through the $ 70 threshold, and the US benchmark adds six quick weeks of gains for the first time since early 2016. [O/R]

Brent crude futures were last of 23 cents at $ 71.32 while raw futures, the US benchmark, eased 33 cents to $ 63.56.

Editing by Alison Williams

Our Standards: Thomson Reuters Trust Principles.

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