Play Turner’s Take Podcast Episode 162

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G20 | US & China Reach Trade Truce

The US and China reached a trade truce over the weekend at the G20 meeting.  For now the market is cautiously optimistic about the deal.  Shorts covered today but we did not see new buying.  For the markets to rally further we need to see real export demand come to the US from  China

G20 Meeting | US and China Reach Trade Truce

Today Larry Kudlow said they expect fast progress on the trade deal.  You may read a summary of the expected changes and developments here: Kudlow Says Progress in US-China trade will happen “very quickly”

OPEC+ | Russia and Saudi Arabia Make a Deal

The latest reports out of the G20 say Russia and Saudi Arabia agreed to a renew oil output cuts.  There is an OPEC meeting later this week and we will know then if this is true or not.  Crude is up $2.00 and the spreads are trading bullishly, but with bearish macro fundamentals as a headwind, the market will wait for OPEC to make an announcement before going too much higher.

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About Turner’s Take Podcast and Newsletter

If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes!

While the podcast does not have specific actionable trading recommendations, we do publish them in Turner’s Take Market Alert for spec traders and Turner’s Take Ag Marketing for hedgers. Want to know what to look for in the commodity futures markets? Take a listen to Turner’s Take podcast!

Craig Turner – Commodity Futures Broker

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Twitter: @Turners_Take

Contact Craig Turner