Oil gains

Asian shares bounced from two-month lows on Thursday as world equities recovered from a selloff triggered by escalating Sino-U.S. trade tensions, with investors hoping a full-blown trade war between the world’s two biggest economies can be averted.

Sentiment was lifted as the United States expressed willingness to negotiate a resolution to the trade fight after the proposed U.S. tariffs on $50 billion in Chinese goods prompted a quick response from Beijing that it would retaliate by targeting key American imports. Risk-recovery was the main underlying sentiment in Asia that sent the Asian equities rallying amid holiday-thinned light trading. The demand for the safe-havens Yen and gold was hit by easing trade war concerns after the US offered to negotiate with China over the trade spat

In Currencies The dollar inched up against the yen as stocks bounced back from a sell-off triggered by an escalating U.S.-China trade dispute. The greenback was 0.15 percent higher at 106.930 having pulled higher from a low of 105.990 set the previous day. The euro nudged up 0.05 percent to 1.2284, adding to the previous day’s modest gains.

In Commodities concerns about trade wars could also hit some specific assets, such as U.S. soybeans and corn. Both products licked their wounds after having fallen 2.2 percent and 1.9 percent, respectively, on China’s trade moves. Oil prices bounced back in tandem with global share prices, and on a surprise draw in U.S. crude stockpiles. U.S. crude futures traded at 63.71 per barrel, up 0.5 percent.

Forex market economic calendar is relatively Important, related to the economies of Eurozone. Events in the European session today in the forex market economic calendar can move the Euro, the Swiss Franc and The British Pound. Moderate to high volatility is expected as there is the release economic data in the American, Asian and Pacific sessions, especially the Trade Balance figures for Australia and the US.