Trump calls Federal Reserve ‘my biggest threat’

US President Donald Trump has escalated his war of words against America’s central bank, calling the Federal Reserve his “biggest threat”. The remarks, made in an interview with US media outlet Fox Business, follow the president’s repeated criticism of the Fed for its decision to raise interest rates. Mr Trump is worried the moves will hurt economic growth. The Fed maintains the economy is strong enough to handle the increases. It has been gradually raising its benchmark rate since 2015, aiming to shift rates away from the ultra-low levels puts in place during the financial crisis and recession to spur economic activity. Before becoming president, Mr Trump said the Fed should be moving faster, accusing it of keeping rates artificially low to help then President Barack Obama. But his position has changed since he assumed office. Read More @

China to step up banks’ reserve requirement cuts in 2019 as growth risks build: Reuters poll

China’s central bank is increasingly expected to cut the amount of funds banks need to hold as reserves next year as the government looks to funnel cash into an economy hit by slowing domestic demand and a trade war with the United States. Read More @

EU: May must deliver ‘creative solution’ to save Brexit summit

Theresa May has been told that it is up to her to deliver a “creative solution” to break the impasse that threatens to leave Wednesday’s “moment of truth” Brexit summit of EU leaders collapsing around her. With the issue of the backstop to the Irish border derailing the negotiations, and the timeline slipping by the week, Donald Tusk, the president of the European council, said he would demand fresh concrete proposals on the Irish border from the prime minister. Plans to outline a future trade deal during a leaders’ dinner on Wednesday night, a long-sought demand of Downing Street, have been scrapped. Michel Barnier, the EU’s chief negotiator, said the UK government had also failed to meet the conditions necessary for a special November Brexit summit to be called. Read More @


USD is hanging there above 94.50 and it needs fresh news before any major movement of the currency were to take place. We believe the downside for this week remains – tomorrow early morning will be FOMC minutes release and you could see some serious price movement. Be cautious with your position.


  1. 4.30pm – UK will release their CPI data and we are expecting to be good or no change. Expect volatility – we only trade after the news and not before.
  2. 5.00pm – EUR will release their critical CPI data and we are expecting no change; we maintain BUY for EURO this week unless there is a fundamental change – like Italy issue.
  3. 8.30pm – Canada will release their Manufacturing Sales and is expected to be good. We are cautious over CAD trades for now as President is still adamant over Trade War.
  4. 10.30pm – Oil inventory – we are expecting the inventory to be higher; we SELL oil.

Do remember that the market is still volatile and there will be FOMC early tomorrow morning and you can expect massive volatility – ensure you are always aware of money management.

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