US-China trade progress not expected before election

  • Efforts to get China back to the table to talk trade are in their early stages, but strategists are skeptical they will amount to much.
  • China has been expected to wait to see the outcome of mid-term election to see how the new Congress shapes up and whether it weakens President Trump’s hand.
  • The Trump administration may be seeking talks before imposing $200 billion in new tariffs because it is concerned about a negative market reaction ahead of the election. Read More@ https://www.cnbc.com/2018/09/12/us-china-trade-progress-not-expected-before-election.html

What to expect from a not-so-super Thursday

Thursday has the potential to be another interesting day in the markets, with interest rate decisions due from both the Bank of England and the European Central Bank.

It’s not often that we hear from two major central banks on the same day, let alone around the same time, but when we do there’s always the potential for some turbulence.

Both central banks are in the early days of their respective tightening cycles, with the BoE having recently raised interest rates above 0.5% for the first time since the financial crisis and the ECB drawing its quantitative easing program to a close at the end of this year.

Oil nears $80 a barrel as concern grows over global supply

Oil cut earlier losses and rose towards its highest level this year on Wednesday, after a drop in U.S. crude inventories and as the prospect of the loss of Iranian supply added to concerns over the delicate balance between consumption and production.   Brent crude futures LCOc1 were last up 14 cents on the day at $79.20 a barrel by 1123 GMT, having touched a session peak of $79.66, the highest since late May, when the price broke above $80. U.S. crude futures CLc1 rose 61 cents to $69.86 a barrel. “We think oil market fundamentals are increasingly supportive of crude prices, at least at current levels,” said Gordon Gray, HSBC’s global head of oil and gas equity research. Read More @ https://www.reuters.com/article/us-global-oil/oil-nears-80-a-barrel-as-concern-grows-over-global-supply-idUSKCN1LS02Y?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

WHAT IS THE USD TECHNICAL CHARTS SAYING?

USD has finally broke the Ascending triangle and looking at $93 for now but the GAP may call for a temporary pullback before the next fall of the USD comes.

Todays News That Might Affect Your Technical Trades.

  1. 9.00am – Inflation expectation from Australia – expected to be good in favor for AUD.
  2. 9.30am – Australia will release employment & unemployment change – Volatility expected in favor for AUD.
  3. 2.00pm – Germany  & France will release Final CPI – expected no change – but will favor the EURO.
  4. 7.00pm – UK will release their rate votes and monetary policy – we believe it will favor the GBP Pairs. Be aware that there will be massive volatility.
  5. 8.30pm – ECB will be back on the spotlight and this time we believe it will favor the EUR pairs. We will only trade after the news conference and not before.
  6. 8.30pm – US will release their CPI and we are expecting no change for the CPI data – there might be a pullback but we will SELL USD after the pullback and not before.

Overall the market is still fragile; we believe that the market is preparing for next week Thursday for the FOMC minutes to make its next big move. Tightening of monetary policies are already in the progress and we should see some massive market corrections ahead. Be cautious and always have money management in place.

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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