![(17 DECEMBER 2018)DAILY MARKET BRIEF 2:Markets higher ahead of China announcements (17 DECEMBER 2018)DAILY MARKET BRIEF 2:Markets higher ahead of China announcements](https://c.mql5.com/6/820/splash-723450.png)
(17 DECEMBER 2018)DAILY MARKET BRIEF 2:Markets higher ahead of China announcements
![Jiming Huang Jiming Huang](https://c.mql5.com/avatar/2015/11/563C54E3-36DF.jpg)
Asian shares rose on Monday ahead of the US Federal Reserve Bank and Bank of England monetary policy meetings and China’s Central Economic Work Conference, where 2019 growth targets and policy goals will be mentioned. The Chinese government last week said it will support economic growth with reforms and risk reduction while reinforcing investment, jobs and trade. Japanese Nikkei 225 closed the day at +0.62%, while Chinese markets closed slightly lower, with the Hong Kong Hang Seng -0.03% and CSI 300 -0.15%.
Globally, stocks tumbled on Friday following poor economic data from China and Europe. And the trend is expected to continue today, as investors watch Eurozone inflation, expected to have slowed in November by 0.20% monthly, while the trade balance is expected to have risen slightly to EUR 14 billion. Business sentiment is declining and a dovish statement from the European Central Bank has pushed the euro lower (EUR/USD -5.70% year-to-date). EUR/USD is trading at 1.1330, expected to bounce back following last week’s ECB meeting, bouncing from 1.1306 (14 December low) and heading along 1.1340. We expect a sharp drop following the Fed’s meeting from Wednesday, which is expected to raise rates by 0.25%.