Global growth worry hits stocks, but U.S. data lifts dollar
A gauge of global stocks tumbled on Friday after weak economic data from China and Europe intensified global growth worries as investors weighed the broader impact of the trade dispute between the United States and China. Euro zone business ended the year on a weak note, expanding at the slowest pace in over four years as new order growth all but dried up, hurt by trade tensions and violent protests in France, a survey showed. Read More @ https://www.reuters.com/article/us-global-markets/global-growth-worry-hits-stocks-but-u-s-data-lifts-dollar-idUSKBN1OD021?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
Fed meeting could be pivotal for stock market looking for ‘knight in shining armor’
- The Fed’s meeting Wednesday could be pivotal for a stock market that has been crushed by worries about interest rate hikes, trade wars and global growth.
- Fed officials are expected to proceed with a quarter-point interest rate hike but sound a dovish tone by lowering their collective interest rate forecast and reaffirming they will be cautious and rely on economic data.
- Traders hope the Fed could spark a stock market rally, but one bond market strategist said the markets expect too much and want the Fed to be a “knight in shining armor.” Read More @ https://www.cnbc.com/2018/12/14/fed-meeting-may-be-pivotal-for-market-seeking-knight-in-shining-armor.html
WHAT ARE TECHNICAL CHARTS SAYING?
U.S. sets new March 2 date for China tariff increases amid talks – USD once again will become safe haven for now…..
The U.S. Trade Representative’s office on Friday officially changed the scheduled date of a tariff rate increase on $200 billion worth of Chinese goods to 12:01 a.m. EST (0501 GMT) on March 2, 2019 as the United States and China pursue talks on trade and intellectual property.
The change was made in a Federal Register filing from a previously scheduled effective date of Jan. 1, 2019 for the increase to 25 percent from 10 percent.
The notice does not affect the 25 percent tariff rate already in place on $50 billion worth of Chinese technology items, including semiconductors, printed circuit boards and other electronic components, machinery and vehicles. Read More @ https://www.reuters.com/article/us-usa-trade-china-tariffs/u-s-sets-new-march-2-date-for-china-tariff-increases-amid-talks-idUSKBN1OD2QL?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
Be cautious and don’t rush to trade but rather wait and see and have good stop losses; keep in mind good money management rules for this week.
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