FX traders were stunned – and TRY longs painfully crushed and stopped out – after the Turkish central bank unexpectedly kept the one-week repo rate unchanged at 17.75% (the overnight lending and borrowing rates were also left unchanged at 19.25% and 16.25% respectively), slamming consensus expectations of a 100bps increase which was already priced in. Read More @ https://www.zerohedge.com/news/2018-07-24/chaos-after-turkey-unexpectedly-keeps-rates-unchanged-lira-implodes

Wall Street’s favorite recession gauge is flashing yellow again — and not everyone thinks it’s a false alarm

  • Federal Reserve Chairman Jerome Powell has argued the narrowing gap between long- and short-term borrowing costs is nothing to worry about.
  • Some of his colleagues, including St. Louis Fed President James Bullard and Minneapolis Fed President Neel Kashkari, disagree.
  • “Yield curve inversion is a naturally bearish signal for the economy,” Bullard said, warning about the prospect that long-term rates will slip beneath long-term ones. “This deserves market and policymaker attention.”

Federal Reserve Chairman Jerome Powell has downplayed a persistent market trend that tends to worry investors about the prospect of an oncoming recession, saying special factors are to blame for a recent narrowing of the gap between long- and short-term interest rates. But not everyone at the US central bank is so sanguine about the so-called flattening of the yield curve, which many economists believe will lead to an outright inversion — where long-term rates slip beneath their short-dated counterparts. Read More @ https://www.businessinsider.com/wall-street-recession-gauge-flashing-yellow-not-everyone-says-false-alarm-2018-7?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29

WHAT IS THE USD CHART SAYING?

USD once again stayed firm after last night; where will the USD GO? We believe it will go back to 94 then decide its next move. Market is cautious as wall street recession in teh making.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES TODAY.

Will be a quiet day for FOREX MARKET.

  1. 9.30am – AUD will become volatile when Australia releases their CPI. We are expecting a good CPI.
  2. 4.00pm – German will release their business climate the market is expecting no change.
  3. 10.00pm – US will release their home sales – which is a leading indicator and is expected to be weak.
  4. 10.30pm – The market will end with CRUDE OIL inventories and we believe the oil will continue to rally with low inventories supplies.

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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