White House Says Wages Are Growing When Measured Differently

A mystery of the current economic recovery is why wages are stuck in neutral while economic growth revs faster. On Wednesday, the Trump administration tried to solve the puzzle by producing its own measure that shows wages are, in fact, growing. That same measure, however, showed that wage growth has slowed under President Trump, compared with the end of the Obama administration. The most recent data from the federal Bureau of Labor Statistics show that, adjusted for inflation, average weekly earnings for American workers grew just 0.1 percent over the last year. Those data also show that average hourly earnings, adjusted for inflation, are down 0.2 percent over the year. Both those figures rely on an inflation measure known as the Consumer Price Index. Read More @ https://www.nytimes.com/2018/09/05/business/wage-growth-white-house.html?partner=rss&emc=rss

Emerging markets look sick. Will they infect Wall Street? – Chinese stocks are is in a bear market. Turkey’s currency has collapsed. South Africa has stumbled into a recession. Not even an IMF bailout has stemmed the bleeding in Argentina.

The storm rocking emerging markets has its origins in Washington. Vulnerable currencies plunged as the US Federal Reserve steadily raised interest rates. And President Donald Trump’s trade crackdown added gasoline to the fire.  The trouble could spread, infecting other emerging markets or even Wall Street. That’s what happened two decades ago during the Asian financial crisis. “There is a fear of contagion, similar to 1997-1998,” said Michael Arone, chief investment strategist at State Street Global Advisors. Read More @ https://money.cnn.com/2018/09/05/investing/stocks-emerging-markets-argentina-turkey/index.html?section=money_markets&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_markets+%28CNNMoney%3A+Markets%29

U.S. Trade Deficit Widens as Nafta Talks Grind On – US trade deficit widened to $50.1 billion in July

The U.S. trade deficit widened for the second straight month in July, reaching the highest level since February, as imports hit an all-time high. The deficit in goods with China and the European Union set records. The Commerce Department said Wednesday that the deficit in goods and services — the difference between what America sells and what it buys from other countries — rose to $50.1 billion in July from $45.7 billion in June. Exports slipped 1 percent to $211.1 billion. Imports increased 0.9 percent to a record $261.2 billion on increased purchases of trucks and computers. The deficit rose despite efforts by President Donald Trump to bring it down by renegotiating trade agreements and imposing taxes on imports. Read More @ https://abcnews.go.com/Business/wireStory/us-trade-deficit-widened-501-billion-july-57616423

WHAT IS THE USD SAYING?

USD stays firm at 95$ and re-testing the support line; this Friday NFP should be all good for a full employment – the question now is  – WILL THE USD RISE? Be cautious as the market stays fragile and uncertain.

THURSDAY NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 9.30am – Australia will release their Trade Balance – expect volatility in favor for the AUD.
  2. 1.45pm – Swiss will release their GDP and is expected to be good. We buy CHF Pairs.
  3. 2.00pm – EURO will release GERMAN factory orders – It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders. Little or no volatility expected.
  4. 8.15pm – ADP data will be released and is expected to be weaker then previous months – USD expected to take a pullback.
  5. 8.30pm – Canada will release their building permits – little of no movement expected.
  6. 9.45 – 10.00pm – US will release Final PMI, ISM non-mfg and factory orders and we expect no change. Little movement expected for the USD.
  7. 11.00pm – Crude Oil Inventories data is expected to be weak as Iran Sanction continues. Oil rally will continue.

Overall the market will continue to range till this Friday when the US releases the NFP data. Always keep money management as your number 1 priority.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

 

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