China slaps 25% tariffs on $16 billion worth of US goods

UK trade minister Fox says EU is pushing Britain to no-deal Brexit

Fox, a prominent Brexit supporter in Prime Minister Theresa May’s cabinet, put the odds of Britain leaving the European Union without agreeing a deal over their future relationship at 60-40. “I think the intransigence of the commission is pushing us toward no deal,” Fox told the Sunday Times after a trade mission in Japan. “We have set out the basis in which a deal can happen but if the EU decides that the theological obsession of the unelected is to take priority over the economic wellbeing of the people of Europe then it’s a bureaucrats’ Brexit — not a people’s Brexit — (and) then there is only going to be one outcome.” Read @ https://www.reuters.com/article/us-britain-eu-fox/uk-trade-minister-fox-says-eu-is-pushing-britain-to-no-deal-brexit-idUSKBN1KP0QE

Pound Falls to Lowest Since October Versus Euro on No-Deal Fear

Sterling dropped for the third day versus Europe’s common currency and weakened against all of its Group-of-10 peers. U.K. International Trade Secretary Liam Fox said over the weekend that the risk of a no-deal Brexit had increased to as much as 60 percent. Technical analysis here: Euro-Pound Charts Offer Something for Both Bulls and Bears The pound’s weakness versus the euro “is a clear sign that markets are starting to focus on the pound-specific risks associated with a no-deal Brexit,” said Viraj Patel, a currency strategist at ING Groep NV. “We’ve penciled in a 0.91-0.92 high over the coming months to reflect peak no-deal Brexit uncertainty.” Investors have turned more bearish on the U.K. currency as the Brexit deadline approaches, with the latest data from the Commodity Futures Trading Commission showing that both leveraged funds and asset managers continued to increase short positions. Read @ https://www.bloombergquint.com/global-economics/2018/08/08/pound-slips-to-lowest-since-november-versus-euro-on-no-deal-fear#gs.8DZV7I0

WHAT IS THE USD SAYING?

USD is well supported at $95 and it looks like the rally will continue after this Friday CPI data. For now the Trade war between US and China continues.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES TODAY.

  1. 9.30am – China will release their CPI data – expected to be good – AUD & CNY volatility expected.
  2. 2.00pm – Japan will release their machinery tools orders – expected to be good.
  3. 4.00pm – EURO will release ECB Economic Bulletin – volatility expected in favor for the EURO.
  4. 8.30pm – US will release Core PPI data – expected t be good.

The market will continue to hit hard on safe havens instrument as President Donald Trump believes that the GDP and US economy will continue to do well moving forward. His optimism will keep all safe haven – CHF, JPY & GOLD at low levels.

Always be cautious and keep money management in place at all times.

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.

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sending

FINWAZE makes no representations or warranties, express or implied, in relation to this website (www.finwaze.com) or the information and materials provided on this website. It does not also warrants that this website will be constantly available or available at all times. The information on this website is complete, true, accurate or non-misleading. Nothing on this website constitutes, or is meant to constitute, advice of any kind. FINWAZE shall not be liable for any damage or injury, whether direct or indirect, that it may cause in relation to the contents of, or use of, or otherwise in connection with this website. By using this website, you agree to the reasonableness of the limitations of liabilities herein set out and further agree to assume whatever risk, loss, damage or injury in may cause in connection to the use of this website. No claims shall be brought personally against the officers and employees of FINWAZE, in connection with the use of this website. The user of this website agree to the limitations of warranties and liabilities herein set out to protect the officers, employees, agents, subsidiaries, successors, assigns and sub-contractors as well as FINWAZE. Any unenforceable provisions that may be found on this website under applicable law shall not affect the enforceability of the other provisions.

Legal Documents  |  ©2021 Finwaze Philippines

Pin It on Pinterest

Share This

Log in with your credentials

Forgot your details?