What you need to know on Monday, August 26:
Global market is in red range since US-Sino trade war. The US dollar is weakening against major currencies as yields plunge, while it rises to commodity currencies.
Chinese Vice Premier and top negotiator Liu He called foreign investors to be calm. He responded to President Donald Trump's call to US companies to leave China. The escalation began on Friday when China detailed its counter-tariffs.
The escalation overshadowed Fed Chair Jerome Powell's speech, in which he opened the door to cutting rates again, but also pointed out that monetary policy cannot solve all the problems.
The Brexit condition has worsened more over the weekend. European Council, Donald Tusk, said that UK Prime Minister, Boris Johnson “would not like to be Mr. no-deal Brexit. Johnson said that EU is responsible for such condition and UK will not pay the £39 billion divorce bill. UK traders are on holiday today.
Gold rises while oil falls.
Cryptocurrencies rose with Bitcoin settling above $10000.