Aussie Skyrockets As Worries Over US-China Trade Deal Ease

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1. Aussie Skyrockets As Worries Over US-China Trade Deal Ease

The yen slipped and the Australian dollar rose on Wednesday as concerns over the U.S.-China tariff war receded further following a Financial Times report that the two sides have resolved most of the issues standing in the way of a trade deal. The AUD/USD was last seen trading 0.84% higher at 79.35 as of 7:00 GMT.*  

2. DEB Shares Tumble 9%

Debenhams PLC shares tumbled on Tuesday to close almost 9% lower at £2.56 after a report that two shareholders lowered their respective interests in the company last week. Specifically, in a deal completed on Thursday, JPMorgan Chase & Co lowered its interest in the company to below the minimum threshold from a previously held 5.13%. Separately, Brandes Investment Partners LP on Friday reduced its stake in the department store chain operator to 4.44% from 9.93%.**

3. Brent Headed For $70 As Oil Prices Rally For Fourth Consecutive Day

Oil prices rose for a fourth consecutive day on Wednesday, supported by OPEC-led supply cuts and U.S. sanctions, and overshadowing an industry report showing an unexpected rise in U.S. inventories last week. Brent futures (CL_BRENT) rose 41 cents, or 0.6 percent, to $69.78 a barrel by 7:00 GMT, while U.S. West Texas Intermediate crude (USOIL) rose 22 cents, or 0.4 percent, to $62.80 cents a barrel.***

4. Litecoin (LTC) Price Rallies +20% To New 6-Month High

Litecoin price rallied by more than 20% today amid a broader cryptocurrency surge as investors seem to have renewed their faith in the digital assets. LTC/USD added 20.4 percent to last trade at $80.731 as of 7:00 GMT. Meanwhile, EOS/USD was also last seen trading significantly higher at $5.2420, having added 13.05, while Zcash (ZEC/USD) was last up 10.86% at $71.34.****

5. GBP Recovers After May Says Is Prepared To Work With Opposition

U.K. Prime Minister Theresa May said that she would work with the opposition Labour Party on a joint plan for Britain’s withdrawal from the E.U., and that she would seek a second delay. The move is likely to mean a softer Brexit, perhaps even compromising Mrs. May’s long standing demand to exit the customs union with the bloc. May’s statements supported the sterling, which added against its peers in early Wednesday trading. Indicatively,  GBP/USD was last seen trading 0.5% higher at $1.3190 as of 7:05 GMT.*****

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Sources:
*CNBC April 3, 2019 2:48 AM ET
**Reuters April 3, 2019 3:53 AM ET
***Blockonomi April 3,, 2019 03:07 AM ET
****CNBC April 3,, 2019 05:25 AM ET
*****NYT April 3,, 2019 06:33 AM ET

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