FED ARE RELAXING – Fed’s Bullard says not necessary to raise rates further; US GDP growth looks uncertain in first quarter; no need to raise rates with policy neutral – USD awaits Friday NFP data then it will continue getting hammered.
Trump says the US has already lost its trade war with China
- President Donald Trump on Wednesday said the US was “not in a trade war with China” because such a war had already been lost by past US leaders.
- His comments came after the US and China announced tit-for-tat tariffs on a slew of goods.
- Economists say the back-and-forth does not amount to a full-blown trade war yet, but the risks are rising. Read More @ http://www.businessinsider.com/trump-tweet-china-tariff-trade-war-after-stock-market-fall-2018-4
“We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S.,” Trump tweeted. “Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!”
WHAT IS THE USD INDEX SAYING – BACK TO RANGE.
Price back to range and it will remain there till Friday NFP. Market should go sideways today.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- 9.30am – Australia will kick off with trade balance and is expected to be weak. We maintain SELL for AUD.
- 2.00pm – German will release their Factory orders and is expected to be good. We maintain BUY for EURO.
- 3.45pm – 4.00pm – Italy, German and Spain will release their services PMI – is expected to overall good. EURO will release their PMI at 4pm and is expected to be good.
- 4.30pm – UK Services PMI is expected to be good. We maintain BUY for GBP.
- 5.00pm – EURO retail sales – expected to be good.
- 8.30pm – Canada will release their Trade balance and is expected to be weak; but we believe the data will be good.
- 8.30pm – US will also release their Trade Balance we expect no change or lower. We maintain SELL for USD today.
Overall the market will be cautious till FRIDAY NFP data release. Have good money management and always do your charting before you jump into a trade.
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